Project H requires an initial investment of $100,000 and produces annual cash flows of $50,000, $40,000, and $30,000. Project T requires an initial investment of $100,000 and the produces annual cash flows of $30,000, $40,000, and $50,000. The projects are mutually exclusive. The company accepts projects with payback periods of 3 years or less.

a.H and T will both be accepted.

b.Project H will be accepted.

c.Neither projected will be accepted.

d.Project T will be accepted.