Miltons Construction is analyzing its capital expenditure proposals for the purchase of equipment in the coming year. The capital budget is limited to $5,000,000 for the year. Linda Benson, staff analyst at Miltons, is preparing an analysis of the three projects under consideration by Conan Miltons, the company's owner (Click the icon to view the data for the three projects.) (Click the icon to view the Future Value of $1 factors.) (Click the icon to view the Future Value of Annuity of $1 factors) (Click the icon to view the Present Value of $1 factors) (Cick the icon to view the Present Value of Annuity of $1 factors ) Read the requirements Requirement 1. Because the company's cash is limited, Mitons thinks the payback method should be used to choose between the capital budgeting projects Calculate the payback period for each of the three projects. Ignore income taxes (Round your answers to two decimal places) Project A years Project B years Project C years Using the payback method, which project(s) should Miltons choose? tuto stuck. Enter any number in the edit fields and then continue to the next question Expert ers in as O i DELL mital expenditure proposals for the purchase of equipment in the coming year. The capital budget is limited to s ons is preparing an analysis of the three projects under consideration by Conan Miltons, the company's owne the three projects.) alue of $1 factors.) (Click the icon to view the Future Value of Annuity of $1 factors.) Value of $1 factors.) (Click the icon to view the Present Value of Annuity of $1 factors.) 's the capital budgeting p of the Data Table - - X Project A Project B Project C ecte Projected cash outflow Net initial investment $ 3,000,000 S 1,500,000 $4,000,000 Projected cash inflows Year 1 Year 2 $ 1,000,000 $ 1,000,000 1,000,000 1,000,000 Year 3 Year 4 400 000 $ 2,000,000 900,000 2,000,000 800,000 200.000 100,000 nd Required rate of return 12% 12% 12% Annun netinn minn e :: - a DOLL