Problem 9-17 Comparing Investment Criteria [L01, 2, 3, 5, 7] Consider the following two mutually exclusive projects Cash Flow Cash Flow ear -$ 353,000 42,000 62,000 62,000 437,000 48,500 23,700 21,700 19,200 14,300 2 Whichever project you choose, if any, you require a 16 percent return on your investment. a-1 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.) Payback period Project A Project B 3.43 years 2.16 years a-2 If you apply the payback criterion, which investment will you choose? O Project A O ProjectB b-1 What is the discounted payback period for each project? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Project A Project B Discounted payback period years years b-2 If you apply the discounted payback criterion, which investment will you choose? O Project A Project B