Consider the following two mutually exclusive projects: year cash flow (a) cash flow (b) 0 –$ 360,000 –$ 45,000 1 35,000 23,000 2 55,000 21,000 3 55,000 18,500 4 430,000 13,600 whichever project you choose, if any, you require a 14 percent return 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.) payback period project a years project b years 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.) discounted payback period project a years project b years b-2 if you apply the discounted payback criterion, which investment will you choose? project a project b c-1 what is the npv for each project? (do not round intermediate calculations and round your answers to 2 decimal places, e. g., 32.16.) npv project a $ project b $ c-2 if you apply the npv criterion, which investment will you choose? project b project a d-1 what is the irr for each project? (do not round intermediate calculations. enter your answers as a percent rounded to 2 decimal places, e. g., 32.16.) irr project a % project b % d-2 if you apply the irr criterion, which investment will you choose? project a project b e-1 what is the profitability index for each project? (do not round intermediate calculations and round your answers to 3 decimal places, e. g., 32.161.) profitability index project a project b e-2 if you apply the profitability index criterion, which investment will you choose? project a project b f. based on your answers in (a) through (e), which project will you finally choose?