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Cullumber Crafts Corp. management is evaluating two independent capital projects that will each cost the company...

Cullumber Crafts Corp. management is evaluating two independent capital projects that will each cost the company $290,000. The two projects will provide the following cash flows: Year Project A Project B 1 $84,750 $66,000 2 103,450 99,000 3 24,235 137,250 4 129,655 98,110 Collapse question part (a1) What is the payback period of both projects? (Round answers to 2 decimal places, e.g. 15.25.)

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