Jakes Electronics has a required payback period of three years for all of its projects. Currently, the firm is analyzing two independent projects. Project A has an expected payback period of 1.5 years and a net present value of $300. Project B has an expected payback period of 2.5 years with a net present value of $1500. Which project(s) should be accepted based on the payback period decision rule?

A. Both A and B

B. Project A only

C. Project B only

D. Neither A nor B