Q$11.$The director of the capital budgeting for Giant Inc. has identified two mutually exclusive projects, L and S$,$ with the following expected net cash flows:

Year Project L Project S

$0-$$$100-$$$100$

$11070$

$26050$

$38020$

Both projects have a cost of capital of $12$ percent. What is the payback period for Project S$?$

$2\mathrm{.}5$ years

$1\mathrm{.}8$ years

$2\mathrm{.}1$ years

$1\mathrm{.}6$ years

$2\mathrm{.}8$ years