Consider the following two mutually exclusive projects:

Year Cash Flow

$($A$)$ Cash Flow

$($B$)$

$0$$ $344,000$$ $49,000$

$151,00024,600$

$271,00022,600$

$371,00020,100$

$4446,00015,200$

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

a$-1$

What is the payback period for each project? $($Do not round intermediate calculations and round your answers to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

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

multiple choice $1$

Project A

Project B

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$.,32\mathrm{.}16.)$