Please show work.

Yonan Inc. is considering Projects S and L, whose cash flows are shown below. These projects are mutually exclusive, equally risky, and not repeatable. According to the payback period approach and the discounted payback period approach, which project(s) would you choose? Show your work. 10.25% WACC: Year 0 1 2 3 4 CFs -$950 $500 $800 $0 $0 CFL -$2,100 $400 $800 $800 $1,000