Consider the following cash flow of two mutually exclusive projects for the EMIRATES INDUSTRIAL HOLDING COMPANY. Assume the discount rate for both project is 8 percent. Year WNTO 1 2 3 Glass fibers -$1,800,000 1,080,000 840,000 870,000 Glass cloth -$715,000 380,000 627,000 396,000 Based on the payback period, which project should be taken?

Consider the following cash flow of two mutually exclusive projects for the EMIRATES INDUSTRIAL HOLDING COMPANY. Assume the discount rate for both project is 8 percent. Based on the payback period, which project should be taken