NexusCorp is evaluating two projects with the following net cash flows. The company's discount rate is 8%. (PV of $1 = 0.926, PVIFA of $1 = 3.993, FV of $1 = 1.080, FVA of $1 = 4.506)

Year	Project A Cash Flow	Project B Cash Flow
0	$(1,000,000)	$(800,000)
1	$300,000	$250,000
2	$350,000	$280,000
3	$400,000	$320,000
4	$450,000	$350,000
5	$500,000	$380,000

a. Calculate the payback period for both projects. Which project should be chosen based on the payback period?
 b. Determine the net present value for each project. Which project should be selected based on the net present value?