Question

I need Pay Back Periods on the following :
The final two mutually exclusive projects that Caledonia is considering involve mutually exclusive pieces of machinery that perform the same task. The two alternatives available provide the following set of after-tax net cash flows:
Year        Equipment A          Equipment B
0           -$100,000               -$100,000
1                 65,000                    32,500
2                 65,000                     32,500
3                 65,000                     32,500
4&nb sp;                                                32,500
5  &nb sp;                                              32,500
6 &nb sp;                                               32,500
7             &nbs p;                                   32,500
8             ;                                     32,500
9               &n bsp;                                 32,500
The equipment has an expected life of 3 years, whereas equipment B has an expected life of 9 years. Assume req'd Rate of return is 14%