Mickey Inc.is evaluating two mutually exclusive projects.The required rate of return on these projects is 7%.

Year Project A Project B

0 -550,000 -1,000,000

1 175,000 300,000

2 175,000 300,000

3 175,000 300,000

4 175,000 300,000

1. Calculate the net present value for project A.(Round to 2 decimals)
2. Calculate the profitability index for project A.(Round to 3decimals)
3. Calculate the payback period for project B.(Round to 3decimals)