(b) Bart Sampson is also considering investing in two alternative investments in Queenstown and is concerned with how quickly his initial $500,000 investment can be recovered assuming cash flows from projects are received evenly through the year. Project Avant-Garde Bogan Year 250,000 100,000 N 300,000 250,000 250,000 W 300,000 () Calculate the payback period for the Avant-Garde investment in years and months). (11) Calculate the payback period for the Bogan investment (in years and months). (4 marks)