Consider the following two mutually exclusive projects: Year Cash Flow (A) Cash Flow (B) 0 –$ 364,000 –$ 52,000 1 46,000 25,000 2 68,000 22,000 3 68,000 21,500 4 458,000 17,500 Whichever project you choose, if any, you require a return of 11 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.)
