Year Cash Flow 1 $348,000 47.000 67.000 67,000 442,000 Cash Flow (B) 51,000 24.200 22.200 19,700 14,800 3 4 Whichever project you choose, if any, you require a return of 14 percent on your Investment a-1 What is the payback period for each project? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Answer is complete and correct. 338 Project A Project B years years 2.23 a-2 If you apply the payback criterion, which investment will you choose? Project A Project B b-1 What is the discounted payback period for each project? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g.. 32.16.) Answer is complete but not entirely correct. Project A Project B 3.08 3 years 295 years