Consider the following cash flows of two mutually exclusive projects for AZ-Motorcars. Assume the discount rate for AZ-Motorcars is 9 percent.

Year AZM Mini-SUV AZF Full-SUV

0 $ 535,000 $ 885,000

1 337,000 367,000

2 214,000 454,000

3 167,000 307,000

a. What is the payback period for each project? (Do not round intermediate calculations and round your answers to 2 decimal places (e.g., 32.16).)

Payback period

AZM Mini-SUV _______years

AZF Full-SUV ________years

b. What is the NPV for each project? (Do not round intermediate calculations and round your answers to 2 decimal places (e.g., 32.16).)

NPV

AZM Mini-SUV $

AZF Full-SUV $

c. What is the IRR for each project? (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places (e.g., 32.16).)

IRR

AZM Mini-SUV ____%

AZF Full-SUV _____%