c$)$ Your company is considering two projects, $M$ and $N,$ each of which requires an initial outlay of Rs $240$ lakhs. The expected cash inflows from these projects are:

$\backslash$table$[[$Year$,$Project M $($in lakhs of Rs$),$Project N $($in lakhs of Rs$)],[1,85,100],[2,120,110],[3,180,120],[4,100,90]]$

What is the payback period for project M$?$

What is the discounted payback period for project $N$ if the cost of capital is $14\%?$