Kara, Incorporated, imposes a payback cutoff of three years for its international investment projects. Assume the company has the following two projects available.
YearCash Flow (A)Cash Flow (B)0−$ 57,000−$ 102,000123,00025,000230,20030,000325,00029,000411,000238,000
What is the payback period for each project?
Note: Do not round intermediate calculations and round you