Problem 8-21 NPV and Payback Period [LO 1, 4] Andouille Spices, Incorporated, has the following mutually exclusive projects available. The company has historically used a three-year cutoff for projects. The required return is 11 percent. Project F Year 0 -$ 134,000 1 60,500 2 49,500 3 59,500 4 54,500 5 49,500 Project G -$ 204,000 40,500 55,500 89,500 119,500 134,500 a. Calculate the payback period for both projects. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. b. Calculate the NPV for both projects. Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. c. Which project, if any, should the company accept? a. Project F Project G b. Project F Project G C. years years