Greystone, Inc., has the following mutually exclusive projects:

Year	Project A				Project B
0	$	14,400			$	9,800
1		9,000				4,500
2		7,600				4,000
3		2,100				6,400

a.	Calculate the payback period for each project. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
b.	Based on the payback period, which project should the company accept?
c.	If the appropriate discount rate is 9 percent, what is the NPV for each project? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
d.	Based on the NPV, which project should the company accept?