Maxwell Software, Inc., has the following mutually exclusive projects.

Year		Project A		Project B
0		$29,000		$32,000
1		16,500		17,500
2		13,000		11,500
3		3,800		13,000

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.)

	Payback period
Project A	years
Project B	years

a-2.

Which, if either, of these projects should be chosen?

	Project A
	Project B
	Both projects
	Neither project

b-1.	What is the NPV for each project if the appropriate discount rate is 14 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.)

	NPV
Project A	$
Project B	$

b-2.

Which, if either, of these projects should be chosen if the appropriate discount rate is 14 percent?

	Project A
	Project B
	Both projects
	Neither project