Consider the following projects:

Project	Cash Flows ($)
C00	C11	C22	C33	C44	C55
A	1,700	1,700	0	0	0	0
B	3,400	1,700	1,700	4,700	1,700	1,700
C	4,250	1,700	1,200	0	1,700	1,700

1. If the opportunity cost of capital is 9%, which project(s) have a positive NPV?
2. Calculate the payback period for each project.
3. Which project(s) would a firm using the payback rule accept if the cutoff period is three years?