An investment project costs $10,000 and has annual cash flows of $2,600 for six years. (Enter 0 when there is no payback period. Round your answers to 2 decimal places. (e.g., 32.16))
Required: (a) What is the discounted payback period if the discount rate is 8 percent? Discounted payback period years (b) What is the discounted payback period if the discount rate is 12 percent? Discounted payback period years.