1)A project has estimated annual net cash flows of $28,000. It is estimated to cost $89,600.

Determine the cash payback period. If required, round your answer to one decimal place. years

2) Determine the average rate of return for a project that is estimated to yield total income of $386,280 over four years, has a cost of $606,100, and has a $59,900 residual value. Round to the nearest whole number. %