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McKernan Inc. imposes a payback cutoff of three years for its international investment projects. Year Cash Flow (A) Cash Flow (B) 0 $ 60,000 $

McKernan Inc. imposes a payback cutoff of three years for its international investment projects. Year

Cash Flow (A) Cash Flow (B)

0 $ 60,000 $ 70,000

1 . 23,000 15,000

2. 28,000 18,000

3, 21,000 26,000

4, 8,000 230,000

What is the payback period for both projects? (Round the final answers to 2 decimal places.)

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