1. Suppose a company has proposed a new 4-year project. The project has an initial outlay of $50,000 and has expected cash flows of $18,000 in year 1 $22,000 in year 2, $25,000 in year 3 and $33,000 in year 4. There required rate of returns is 12% for projects at this company. What is the Payback for this project? (Answer to the nearest tenth of a year, e.g. 1.2)

2. Suppose a company has proposed a new 4-year project. The project has an initial outlay of $84,000 and has expected cash flows of $20,000 im year 1, $24,000 in year 2, $28 000 n year 3, and $34,000 in year 4. The required this project rate of return is 14% for projects at this company what is the discounted payback for this project? (Answer to the nearest tenth of a year, e.g 3.2)