Jane is considering two projects both of which have an initial cost of $20,000. The cash inflows of project A are $3,000, $6,000, $12,000, and $15,,000 over the next four years, respectively. The cash inflows for project B are $10,000, $9,000, $5,000, and $3,000 over the next four years, respectively. Jane requires a 10 percent rate of return . What is the Payback period for each project?

Would Jane consider using IRR as a different means of evaluating the project? ? Show calculations in detail and explain your answer.