Long$-$term investment decision, payback method Personal Finance Problem Bill Williams has the opportunity to invest in project A that costs $$7,600$ today and promises to pay $$2,100,$$$2,400,$$$2,400,$$$2,100$ and $$1,800$ over the next $5$ years. Or$,$ Bill can invest $$7,600$ in project $B$ that promises to pay $$1,400,$ $$1,400,$$$1,400,$$$3,500$ and $$4,100$ over the next $5$ years. $($Hint: For mixed stream cash inflows, calculate cumulative cash inflows on a year$-$to$-$year basis until the initial investment is recovered.$)$

a$.$ How long will it take for Bill to recoup his initial investment in project $A?$

b$.$ How long will it take for Bill to recoup his initial investment in project B$?$

c$.$ Using the payback period, which project should Bill choose?

d$.$ Do you see any problems with his choice?

a$.$ For Bill to recoup his initial investment in project $A,$ it will take years. $($Round to two decimal places.$)$