Consider the following two mutually exclusive projects:

Year	Cash Flow (A)				Cash Flow (B)
0	$	357,000			$	46,500
1		38,000				23,300
2		58,000				21,300
3		58,000				18,800
4		433,000				13,900

Whichever project you choose, if any, you require a return of 14 percent on your investment.

b-1	What is the discounted payback period for each project? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

b-2	If you apply the discounted payback criterion, which investment will you choose?
	multiple choice 2 Project A Project B

c-1	What is the NPV for each project? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

c-2	If you apply the NPV criterion, which investment will you choose?
	multiple choice 3 Project A Project B

d-1	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.)

d-2	If you apply the IRR criterion, which investment will you choose?
	multiple choice 4 Project A Project B

e-1	What is the profitability index for each project? (Do not round intermediate calculations and round your answers to 3 decimal places, e.g., 32.161.)

e-2	If you apply the profitability index criterion, which investment will you choose?
	multiple choice 5 Project A Project B

f.	Based on your answers in (a) through (e), which project will you finally choose?