Company ABC is evaluating two investment projects with the following cash flows:

Project A:

- Initial Investment: $200,000 –

Cash Flows: -

Year 1: $50,000 –

Year 2: $60,000

 - Year 3: $70,000

 - Year 4: $80,000

- Year 5: $90,000

Project B:

- Initial Investment: $250,000

- Cash Flows:

- Year 1: $70,000

 - Year 2: $80,000

- Year 3: $90,000

- Year 4: $100,000

- Year 5: $110,000

 Calculate the payback period for each project and analyze which project is more favorable based on this criterion.