1) Apple Inc.'s 2021 Consolidated Financial Statements (FYE 9/25/21) reveal a $11,085,000,000 cash outflow for investments in fixed assets (purchases of property, plant and equipment). Assume the average useful life is five years and Apple Inc.'s minimum required rate of return is 12% in 2021 for these investments. Calculate the minimum average annual net cash inflow necessary for these investments to be acceptable.

2) Using the average annual net cash inflows calculated in requirement 1 and the $11,085,000,000 cash outflow for investments, determine the payback period.