Suppose that a company is considering two different and mutually exclusive projects (A and B), where both have a five-year life and require an investment of 58^,000. The cash flow patterns for each project are given below. Project A: Even cash flows of $28,000 per year. Project B: $48.000.$4O.OOO. $36,000. $20.000. and $12.000. Required a ululate the payback period for Project A (round to one decimal place): Payback period = years years and is - Select your answer - than payback for Project A; thus Project B is - Select your answer - and has - Select your answer - | impact on liquidity. Calculate the payback period for Project B by completing the following table: Now assume that a third project, Project C becomes available with the same investment outlay and the following annual cash flows (projects, A, B, and C are mutually exclusive): Project C: S66.000. 520,000, 550,000, S50.000. and 550,000 Calculate the payback for Project C (round to one decimal place):Payback period = years more for the years beyond the payback period than Project B. Second, Project C returns S that Project C returns in the first year could be put to productive use, such as investing in another project. The payback period thus b. Project C has the same payback as Project B but should be preferred over Project B for two reasons. First, Project C provides 5 in the first year, while Project B returns only 5 . The extra 5- Select your answer - I the time value of money