Current Attempt in Progress

Crane Unlimited is considering purchasing an additional delivery truck that will have a seven$-$year useful life. The new truck will cost

$$33,000.$ Cost savings with this truck are expected to be $$11,000$ for the first two years, $$7,000$ for the following two years, and

$$4,000$ for the last three years of the truck's useful life.

What is the payback period for this project? $($Round answer to $2$ decimal places, e$.$g$.52\mathrm{.}75.)$

Payback period

ears

What is the discounted payback period for this project with a discount rate of $12$ percent? $($Round intermediate calculations to $5$

decimal places, e$.$g$.0\mathrm{.}42355.$ Round answer to $2$ decimal places, e$.$g$.52\mathrm{.}75.)$