Quantitative Problem: Bellinger Industries is considering two projects for inclusion in its capital budget, and you have been asked to do the analysis. Both projects' after-tax cash flows are shown on the time line below. Depreciation, salvage values, net operating working capital requirements, and tax effects are all included in these cash flows. Both projects have 4-year lives, and they have risk characteristics similar to the firm's average project. Bellinger's WACC is 7%.

Project A	-1,200		650		350		200		250
Project B	-1,200		250		285		350		700

a. What is Project A's payback in years? Round your answer to four decimal places. Do not round your intermediate calculations.

b. What is Project A's discounted payback in years? Round your answer to four decimal places. Do not round your intermediate calculations.

c. What is Project B's payback in years? Round your answer to four decimal places. Do not round your intermediate calculations.

d. What is Project B's discounted payback in years? Round your answer to four decimal places. Do not round your intermediate calculations.