Your project selection committee is meeting later this week and is considering a. Initiating one of two projects. They?ve asked you to recommend the project that will benefit the organization the most. The information you?ve gathered shows the initial investment for Project 1 is $295,000. Monthly cash inflows for the first year are $17,000, and expected cash inflows beginning in year 2 are $36,000 per quarter. Project 2 has an initial investment of $332,000. Expected quarterly inflows for the first year are $44,000. Beginning in the second year, inflows are expected to be $12,000 monthly. Which project should you recommend to the committee and why?.

A)Project 1, because it has a payback period of 20 months, which is shorter than Project 2?s payback period.
B)Project 1, because it has a payback period of 23 months, while Project 2 has a payback period of 28 months.
C)Project 1, because it has a lower initial investment than Project 2.
D)Project 1, because it has a payback period of 16 months, while Project 2 has a payback period of 21 months

Answer is A. Please provide the explanation