You require a rate of return of 14 percent on your investment. Consider the following two mutually exclusive projects:

Year	Cash Flow (A)			Cash Flow (B)
0	$	54,000		$	23,000
1		12,700			11,600
2		23,200			11,200
3		27,600			12,500
4		46,500			6,000

i. If applying the payback method, which project will you choose? You must show calculations. ii. If applying the NPV method, which project will you choose? You must show your calculations. iii. Compare and contrast the two methods. Considering both methods, which project will you finally choose? Explain your answer.