The CEO of Garneau Cinemas is considering making a movie and must decide between a comedy and a thriller

it doesn't have the production space to make both. The comedy is expected to cost $

25 million up front (at t = 0). After that, it is expected to make $

17 million in the first year (at t = 1) and $

3 million in each of the following two years (at t = 2 and t = 3). In the fourth year (at t = 5), it is expected that the movie can be sold into syndication for $

2 million with no further cash flows back to Garneau Cinemas. The thriller is expected to cost $

35 million up front (at t = 0). After that, it is expected to make $

15 million in the first year (at t = 1) and $

4 million in each of the following four years (at t = 2, 3, 4, and 5). In the sixth year (at t = 6), it is expected that the movie can be sold into syndication for $

25 million with no further cash flows back to Garneau Cinemas. The cost of capital is

11%, and Garneau usually requires projects to have a payback within four years. Determine each project's payback and NPV, and advise the CEO what she should do.