Cranes Construction is analyzing its capital expenditure proposals for the purchase of equipment in the coming year. The capital budget is limited to $6,000,000 for the year Lemon Baker, staff analyst at Cranes, is preparing an analysis of the three projects under consideration by Conan Cranes, the company's owner (Click the icon to view the data for the three projects.) (Click the icon to view the Future Value of $1 factors) (Click the icon to view the Present Value of $1 factors) Read the requirements (Click the icon to view the Future Value of Annuity of $1 factors.) (Click the icon to view the Present Value of Annuity of $1 factors) Requirement 1. Because the company's cash is limited, Cranes thinks the payback method should be used to choose between the capital budgeting projects Calculate the payback period for each of the three projects Ignore income taxes (Round you Project A Project B years 2.25 years Data table Project C 25 years Uhing the payback method, which project(s) should Cranes choose? Project C Project A Project B Project C Projected cash outflow Net intal investment $3,000,000 $1,500,000 $ 4,000,000 Projected cash inflows Year 1 $1,000,000 $ 400,000 $2,000,000 Your 2 1,000,000 Year 3 1,000,000 900,000 2,000,000 800,000 200,000 Your 4 1,000,000 100,000 Reqared rate of retum 9% 8% 1% Print Done - X Next