Jan Booth is considering investing in either a storage facility or a car wash facility. Both projects have a five-year life and require an investment of $400,000. The cash flow patterns for each project are given below. Storage facility: Even cash flows of $180,000 per year Car wash: $112,700, $142,700, $70,000, $129,000, and $95,000 Required: 1. Calculate the payback period for the storage facility (even cash flows). Round your answer to one decimal place. fill in the blank 1 2 years 2. Calculate the payback period for the car wash facility (uneven cash flows). Round your answer to three decimal places. fill in the blank 2 years Which project should be accepted based on payback analysis? Storage facility 3. What if a third mutually exclusive project, a laundry facility, became available with the same investment and annual cash flows of $210,000? It has a shorter payback period and provides more cash flow over its life. Now which project would be chosen?