Project A has an initial cost of $55,000 expected net cash inflow of $35,000 per year for 3 years, and a cost of capital of 9%.

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Project B has an initial cost of $57,000 expected net cash inflows of $30,000 per year for 3 years, and a cost of capital of 9%.

Calculate the Normal Payback Period:

Calculate the Discounted Payback Period:

Calculate the NPV: Assume projects A and B are mutually exclusive, which project should be accepted based on NPVs results and why?