Choosing between two projects with acceptable payback periods Shell Camping Gear, Inc., is considering two mutually exclusive projects. Each requires an initial investment of $$180,000.$ John Shell, president of

the company, has set a maximum payback period of $4$ years.

The cash inflows associated with each project are shown in the following table:

a$.$ Determine the payback period of each project.

b$.$ Which project is acceptable based on payback period?

a$.$ The payback period of project A is $4\mathrm{.}9$ years. $($Round to two decimal places.$)$

The payback period of project $B$ is $\_$ years. $($Round to two decimal places.$)$

b$.$ Which project is acceptable based on payback period? $($Select the best answer below.$)$

Project A would be preferred over project $B$ because the larger cash flows are in the later years of the project.

Project B would be preferred over project A because the larger cash flows are in the early years of the project.

I am curious if my answers are correct

Data table

$($Click on the icon here in order to copy the contents of the data table below

into a spreadsheet.$)$