X is considering purchasing an additonal delivery truck that will have a 7 year useful life. The new truck will cost $34,000. Cost savings with this truck are expected to be $11,000 for the first 2 years, $7,000 for the following 2 years and $4,000 for the last 3 years of the truck's useful life.

What is the payback period for this project (Round answer to 2 decimal places)

What is the discounted payback period for this project with a discount rate of 11% (Round intermediate calculations to 5 decimals places. round answer to 2 decimal places)