Canada Golf Club (CGC) is considering three independent projects for July 2021 tournament. The three projects are project A, project B and project C.

Given the following cash flow information, calculate the payback period for each.

If CGC requires a 3-year payback before an investment can be made, which project(s) would be accepted?

Year	Project A ($)	Project B ($)	Project C ($)
0 (Investment)	-2,000	-$10,000	-$5,000
1	-2,000	-6,000	-2,000
2	800	4,000	5,000
3	600	3,000	5,000
4	600	2,000	5,000
5	400	2,000	2,000