Question: 1. Project L requires an initial outlay at t = 0 of $47,000, its expected cash inflows are $12,000 per year for 6 years, and

1. Project L requires an initial outlay at t = 0 of $47,000, its expected cash inflows are $12,000 per year for 6 years, and its WACC is 14%. What is the project's payback? Round your answer to two decimal places.

2. Project L requires an initial outlay at t = 0 of $65,000, its expected cash inflows are $15,000 per year for 9 years, and its WACC is 10%. What is the project's discounted payback? Do not round intermediate calculations. Round your answer to two decimal places.

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