1. Project L costs $60,000, its expected cash inflows are $11,000 per year for 10 years, and its WACC is 12%. What is the project's payback? Round your answer to two decimal places.
2. Calculate the price of a zero coupon bond that matures in 19 years if the market interest rate is 3.9 percent. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Zero coupon bond price = $