Consider the following three projects. All three have an initial investment of $1,000,000. (Click the icon to view the investments.) Requirements 1. Determine the payback period of each project. Rank the projects from most desirable to least desirable based on payback 2. Are there other factors that should be considered in addition to the payback period? Data table - sed Net Cash Inflows Project L Project M Project N Year Annual Accumulated Annual Accumulated Annual Accumulated Year 1 $ 250,000 $ 250,000 $ 350,000 $ 350,000 $500,000 $ 500,000 Year 2 250,000 500,000 400,000 750,000 500,000 1,000,000 ext Year 3 250,000 750,000 250,000 1,000,000 Year 4 250,000 1,000,000 350,000 1,350,000 Year 5 250,000 1,250,000 450,000 1,800,000