1. Discounted payback Project K costs $55,000, its expected cash inflows are $13,000 per year for 8 years, and its WACC is 7%. What is the project's discounted payback? Round your answer to two decimal places. years
2. What are the ways in which S corporation status terminates? What are the consequences of the termination to (a) the S corporation and (b) its shareholders?