Problem 9-17 Comparing Investment Criteria [LO1, 2, 3, 5, 7] Consider the following two mutually exclusive projects: Year Cash Flow (A) Cash Flow (B) -$ 0 -$ 355,000 47,500 1 40,000 23,500 2 60,000 21,500 3 60,000 19,000 4 435,000 14,100 Whichever project you choose, if any, you require a return of 15 percent 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.) Answer is complete but not entirely correct. Payback period Project A 3.43 years Project B 2.16 years If you apply the payback criterion, which investment will you choose? Project A Project BO b- What is the discounted payback period for each project? (Do not round intermediate 1. calculations and round your answers to 2 decimal places, e.g., 32.16.) Project A Project B Answer is complete but not entirely correct. Discounted payback period 396 years 2.97