McKernan Inc. imposes a payback cutoff of three years for its international investment projects. The company has the following two projects

Year Cash Flow $($A$)$ Cash Flow $($B$)$

$0$$ $101,600$$ $118,000$

$139,00031,000$

$244,00034,000$

$337,00042,000$

$424,000246,000$

What is the payback period for both projects?