1.Northern Specialties just purchased inventory-management computer software at a cost of $1,241,950. Cost savings from the investment over the next six years will produce the following cash flow stream: $146,340, $263,240, $296,600, $526,250, $720,320, and $565,740. What is the payback period on this investment? (Round answer to 2 decimal places,e.g. 15.25.) Payback period is what amount of years?

2.Management of Franklin Mints, a confectioner, is considering purchasing a new jelly bean-making machine at a cost of $312,500. They project that the cash flows from this investment will be $134,000 for the next seven years. If the appropriate discount rate is 14 percent, what is the NPV for the project? (Enter negative amounts using negative sign, e.g. -45.25. Do not round discount factors. Round answer to 2 decimal places, e.g. 15.25.)

NPV $?