Compute the traditional payback period $($PB$)$ for a project that costs $$48,000$ if it is expected to generate $$12,000$ per year for six years? Round your answer to the nearest whole number.

$\_$ years

If the firm's required rate of return is $8$ percent, what is the project's discounted payback period $($DPB$)?$ Do not round intermediate calculations. Round your answer to two decimal places.

$\_$ years

Should the project be purchased?

The project $\_$ be purchased.