Problem
1) Project L requires an initial outlay at t = 0 of $65,000, its expected cash inflows are $10,000 per year for 7 years, and its WACC is 12%. What is the project's payback?
2) Project L requires an initial outlay at t = 0 of $35,000, its expected cash inflows are $10,000 per year for 9 years, and its WACC is 9%. What is the project's discounted payback? Do not round intermediate calculations.