1. Project L costs $40,000, its expected cash inflows are $14,000 per year for 8 years, and its WACC is 11%. What is the project's payback? Round your answer to two decimal places.
2. Project L costs $50,000, its expected cash inflows are $12,000 per year for 8 years, and its WACC is 12%. What is the project's discounted payback? Round your answer to two decimal places.