What is the Payback period for project 1 and 2?

Gonzalez Company is considering two new projects with the following net cash flows. The company's required rate of return on investments is \10. (PV of \\$1. FV of \\$1. PVA of \\$1, and FVA of \\$1) Note: Use oppropriate factor(s) from the tables provided. a. Compute payback period for each project. Based on payback period, which project is preferred? b. Compute net present value for each project. Based on net present value, which project is preferred? Complete this question by entering your answers in the tabs below. Compute payback period for each project. Based on payback period, which project is preferred? Note: Cumulative net cash outflows must be entered with a minus sign. Do not round your intermediate calculations, Round your Payback Period answer to 2 decimal places