1. Project L costs $50,000, its expected cash inflows are $10,000 per year for 8 years, and its WACC is 10%. What is the project's NPV? Round your answer to the nearest cent. Do not round your intermediate calculations.
2. Project L costs $55,000, its expected cash inflows are $15,000 per year for 10 years, and its WACC is 10%. What is the project's payback? Round your answer to two decimal places.