Kilimanjaro, Incorporated, imposes a payback cutoff of three years for its international investment projects.
Year Cash Flow (A) Cash Flow (B)
0 −$ 62,000 −$ 72,000
1 24,000 16,000
2 30,000 19,000
3 22,000 28,000
4 9,000 232,000
What is the payback period for both projects?
Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.