Janina, Incorporated, has the following mutually exclusive projects.

Year Project A Project B

$0$$ $35,000$$ $38,000$

$119,50020,500$

$216,00014,500$

$34,40016,000$

a$-1.$ Calculate the payback period for each project.

a$-2.$ What is the NPV for each project if the appropriate discount rate is $16$ percent?