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1. A project has the following cash flows. What is the payback period? | Year 0 1 2 CashFlow A. 2.07 years B. 2.14 years C. 2.16 years D. 2.32 years E. 2.36 years -$6,300 I. 2. Which one of the following statements is correct? C. The payback period is computed based on the present value of each of a project's cash flows. $182,076.37 F. The payback rule states that you should accept a project if the payback period is less than one year. The payback rule works best when applied to mutually exclusive decisions. L. The payback rule is biased in favor of short-term investments. O. The payback period considers the timing and amount of all of a project's cash flows. 3. A project you are considering requires an initial cash outlay of $675,000 for equipment. You expect to spend an additional $45,000 in the first year to cover costs as the project will produce negligible cash inflows for that year. During years 2 through 6, you expect to receive cash inflows of $325,000 a year. What is the net present value of this project at a discount rate of 14 percent? $116,189.91 $226,956.50 $1,100 $264,255.54 $4,500 $395,751.31 $5,000