(Payback period calculations) You are considering three independent projects: project A, project B, and project C. Given the cash flow information in the popup window

a) calculate the payback period for each.

b) If you require a 3-year payback before an investment can be accepted, which project(s) would be accepted?\

PROJECT A		PROJECT B		PROJECT C
Initial Outlay	$1,000		$10,000		$5,000
Inflow year 1	600		5,000		1,000
Inflow year 2	300		3,000		1,000
Inflow year 3	200		3,000		2,000
Inflow year 4	100		3,000		2,000
Inflow year 5	500		3,000		2,000