Required: A project has estimated annual net cash flows of $62,000 and is estimated to cost $384,400. What is the payback period? Note: Round your answer to 2 decimal places. Payback Period Years Shaylee Corporation has $2.00 million to invest in new projects. The company's managers have presented a number of possible options that the board must prioritize. Information about the projects follows: Initial investment Project A $429,000 779,000 Project B $244,000 429,000 Project C $ 734,000 1,214,000 Project D $ 959,000 1,574,000 Present value of future cash flows: Required: 1. Is Shaylee able to invest in all of these projects simultaneously? 2-a. Calculate the profitability index for each project. 2-b. What is Shaylee's order of preference based on the profitability index? Complete this question by entering your answers in the tabs below. Req 1 Req 2A and 28 2-A. Calculate the profitability index for each project. Note: Round your answers to 4 decimal places. 2-B. What is Shaylee's order of preference based on the profitability index? Project A Project B Profitability Index Rank Project C 3 Project D 4