1. Suppose a company has proposed a new 4-year project. The project has an initial outlay of $60,000 and has expected cash flows of $18,000 in year 1, $23,000 in year 2, $26,000 in year 3, and $34,000 in year 4. The required rate of return is 14% 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 $64,000 and has expected cash flows of $20,000 in year 1, $24,000 in year 2, $28,000 in year 3, and $34,000 in year 4. The required 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)

3. Suppose a company has proposed a new 4-year project. The project has an initial outlay of $27,000 and has expected cash flows of $7,000 in year 1, $9,000 in year 2, $11,000 in year 3, and $14,000 in year 4. The required rate of return is 15% for projects at this company. What is the net present value for this project? (Answer to the nearest dollar.)