Global Toys Inc., imposes a payback cutoff of three years for its international investment projects. Assume the company has the following two projects available.

Year	Cash Flow (A)		Cash Flow (B)
0	$	55,000	$	95,000
1		19,000		18,000
2		27,000		26,000
3		24,000		28,000
4		9,000		260,000

Requirement 1:

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

	Payback period
Project A	years
Project B	years

Requirement 2:

Should it accept either of them?

A firm evaluates all of its projects by applying the IRR rule.

Year	Cash Flow
0		$ 153,000
1		78,000
2		67,000
3		49,000

Requirement 1:

What is the project's IRR? (Do not round intermediate calculations. Enter your answer as a percentage rounded to 2 decimal places (e.g., 32.16).)

Internal rate of return

%

Requirement 2:

If the required return is 11 percent, should the firm accept the project?