You are evaluating a project that will cost $ $459$ comma $000,$ but is expected to produce cash flows of $ $129$ comma $000$ per year for $10$years$,$ with the first cash flow in one year. Your cost of capital is $11\mathrm{.}2\%$ and your$$ company's preferred payback period is three years or less.

a$.$ What is the payback period of this$$ project?$($Round to two decimal$$ places.$)$

b$.$ Should you take the project if you want to increase the value of the$$ company?$($Round to two decimal$$ places.$)$