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Consider the following two mutually exclusive projects: Whichever project you choose, if any, you require a 1 5 % return on your investment. a -

Consider the following two mutually exclusive projects:

Whichever project you choose, if any, you require a $15 %$ return on your investment.

a $- 1 .$ What is the payback period for each project? $($ Round the final answers to $2$ decimal places. $)$

years

Project B

years

a $- 2 .$ If you apply the payback criterion, which investment will you choose?

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