Payback and NPV Neil Corporation has three projects under consideration. The cash flows for each of them are shown in the following table:

a$.$ Calculate each project's payback period. Which project is preferred?

b$.$ Calculate each project's net present value $($NPV$)$ assuming a$($n$)15\%$ cost of capital. Which project is preferred according to this method?

c$.$ Comment on your findings in parts a and $b,$ and recommend the best project.

a$.$ The payback period of project $A$ is years. $($Round to two decimal places.$)$

Data table

$($Click on the icon here in order to copy the contents of the data table into a spreadsheet.$)$

$\backslash$table$[[,$Project A$,$Project B$,$Project C$],[$Initial investment $(C{F}_0),$$$40,000,$$$40,000,$$$40,000$