Consider the following cash flows of two mutually exclusive projects for AZ Motorcars. Assume the discount rate for both projects is 8 percent.

Year	AZM Mini-SUV			AZF Full-SUV
0	$	530,000		$	880,000
1		336,000			366,000
2		212,000			452,000
3		166,000			306,000

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	%