please help! 1

Jan Booth is considering investing in either a storage faclity or a car wash facility. Both projects have a five-year lite and require an investment of $390,000. The cash flow patterns for each project are given below. Storage facility: Even cash flows of $200,000 per year Car wash: $112,500,$143,400,$66,000,$123,000, and $99,000 Required: 1. Calculate the payback peried for the storage facility (even cash flows). Round your answer to one decimal place. years 2. Calculate the payback period for the car wash facility (uneven cash flows). Round your answer to three decimal places. yesis Which project should be accepted based on payback analysis? 3. What if a third mutually exclusive project, a lasidiry facility, became availabie with the same investment and ansial cash fliows of $230,000 ? It has a shorter payback period and proyides more cash flow over its life, * Now which profect would be chosen