1. Project L requires an initial outlay at t = 0 of $75,000, its expected cash inflows are $8,000 per year for 9 years, and its WACC 9%, What is the project's MIRR? Do not round intermediate calculations. Round your answer to two decimal places.

2. Project L requires an initial outlay at t = 0 of $74,000 , its expected cash inflows are $14,000 per year for 11 years, and its WACC is 10%What is the project's payback? Round your answer to two decimal places.