"=\\frac{11600}{12200} = 0.95 \\\\\n\n12 \\times 0.95 = 11.40 \\; months"
11 months and "(30 \\times 0.4)" days
11 months and 12 days
Thus payback period = 2 years 11 month and 12 days
"= \\frac{7400}{14200} = 0.52 \\; years \\\\\n\n12 \\times 0.52 = 6.24 \\; months"
6 months and "(30 \\times 0.24)" days
6 months and 7 days
Thus payback period = 3 years 6 months and 7 days
Answer: project A has shorter payback period.
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