To evaluate the two projects, we will compute the payback period, Net Present Value (NPV), and Internal Rate of Return (IRR) for each project.
### a. Calculate the Payback Period for Each Project
**Project A**
- Year 0: Initial Investment = -$150,000
- Year 1: Cash Flow = $30,000 (Cumulative: -$150,000 + $30,000 = -$120,000)
- Year 2: Cash Flow = $30,000 (Cumulative: -$120,000 + $30,000 = -$90,000)
- Year 3: Cash Flow = $30,000 (Cumulative:


