Part 1

The payback period of project Hydrogen is ____ years.(Round to two decimal places.)

Part 2

The payback period of project Helium is _____years.(Round to two decimal places.)

Part 3

Which project meets Elysian's standard?(Select the best answer below.)

A - Only project Helium meets Elysian's standard.

B - Only project Hydrogen meets Elysian's standard.

C- Both projects are acceptable because their payback periods are less than the 6 years criterion.

Elysian Fields, Inc., uses a maximum payback period of 6 years and currently must choose between two mutually exclusive projects. Project Hydrogen requires an initial outlay of $30,000; project Helium requires an initial outlay of $32,000. Using the expected cash inflows given for each project in the following table, , calculate each project's payback period. Which project meets Elysian's standards? Data table (Click on the icon here in order to copy the contents of the data table below The payback period of project Hydrogen is years. (Round to two decimal places.) into a spreadsheet.)