a$.$Project L requires an initial outlay at t $=0$ of $$40,000,$ its expected cash inflows are $$9,000$ per year for $9$ years, and its WACC is $11\%.$ What is the project's discounted payback? Do not round intermediate calculations. Round your answer to two decimal places.

b$.$A project has annual cash flows of $$4,000$ for the next $10$ years and then $$6,500$ each year for the following $10$ years. The IRR of this $20-$year project is $13\mathrm{.}26\%.$ If the firm's WACC is $9\%,$ what is the project's NPV$?$ Do not round intermediate calculations. Round your answer to the nearest cent.