Here are the expected cash flows for three projects:

Project Year	0	1	2	3	4
A	-6400	1350	1350	3700	0
B	-2400	0	2400	2700	3700
C	-6400	1350	1350	3700	5700

a. What is the payback period on each of the projects?

b. If you use the payback rule with a cutoff period of 2 years, which projects will you accept?

c. If you use a cutoff period of 3 years, which projects will you accept?

d-1. If the opportunity cost of capital is 9%, calculate the NPV for projects A, B, and C. (Negative amounts should be indicated by a minus sign. Do not round intermediate calculations. Round your answers to 2 decimal places.)

d-2. Which projects have positive NPVs?

e. "Payback gives too much weight to cash flows that occur after the cutoff date." True or false?