1. Oxygen Optimization is evaluating a project that would cost 83,000 dollars today. The project is expected to have the following other cash flows: 23,100 dollars in 1 year, 27,100 dollars in 2 years, 59,336 dollars in 3 years, and 5,500 dollars in 4 years. The cost of capital of the project is 5.87 percent. What is the discounted payback period for the project? Round your answer to 2 decimal places (for example, 2.89, 14.70, or 6.00).

2. Fairfax Pizza is evaluating a 1-year project that would involve an initial investment in equipment of 24,900 dollars and an expected cash flow of 26,000 dollars in 1 year. The project has a cost of capital of 2.11 percent and an internal rate of return of 4.42 percent. If Fairfax Pizza were to use 24,900 dollars in cash from its bank account to purchase the equipment, the net present value of the project would be 563 dollars. However, Fairfax Pizza has no cash in its bank account, so using money from its account is not possible. Therefore, the firm would need to borrow money to raise the 24,900 dollars. If Fairfax Pizza were to borrow money to raise the 24,900 dollars, the interest rate on the loan would be 1.4 percent. Fairfax Pizza would receive 24,900 dollars from the bank at the start of the project and would pay 25,249 dollars to the bank in 1 year. What is the NPV of the project?