Janina, Incorporated, has the following mutually exclusive projects.

Year	Project A	Project B
0	$ 18,000	$ 21,000
1	11,000	12,000
2	7,500	8,500
3	2,700	7,500

a-1.	Calculate the payback period for each project. (Do not round intermediate calculations and round your answers to 3 decimal places, e.g., 32.161.)

a-2.	If the company's payback period is two years, which, if either, of these projects should be chosen?
	multiple choice 1 Project A Project B Both projects Neither project

b-1.	What is the NPV for each project if the appropriate discount rate is 16 percent? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

b-2.	Which, if either, of these projects should be chosen if the appropriate discount rate is 16 percent?
	multiple choice 2 Project A Project B Both projects Neither project