Mario Brothers, a game manufacturer, has a new idea for an adventure game. It can market either the game as a traditional board game or as an interactive smart-phone application, but not both. Consider the following cash flows of the two mutually exclusive projects for Mario Brothers. Assume the discount rate for the project is 10 percent.

Year	Board Game	Smart Phone App
0	$ (320,000.00)	$ (550,000.00)
1	$ 240,000.00	$ 310,000.00
2	$ 130,000.00	$ 280,000.00
3	$ 75,000.00	$ 195,000.00

(a) Based on the Payback period rule, which project should you choose?

(b) Based on the NPV, which project should you choose?

Please show work in Excel