Problem 5-16 Comparing Investment Criteria Consider the following cash flows of two mutually exclusive projects for AZ-Motorcars. Assume the discount rate for both projects is 8 percent. Year AZM Mini-SUV AZF Full-SUV 0 -$ 480,000 -$ 830.000 1 326,000 356,000 2 2 192.000 432.000 3 156,000 296,000 a. What is the payback period for each project? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Answer is complete and correct. AZM Mini-SUV 1.80 years AZF Full SUV 2.14 years b. What is the NPV for each project? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) AZM Mini-SUV AZF Full-SUV C. What is the IRR for each project? (Do not round intermediate calculations and ente your answers as a percent rounded to 2 decimal places, e.g. 32.16.) AZM Mini-SUV AZF Full-SUV % %