#4. An investment project has annual cash inflows of $4,200, $5,300, $6,100, and $7,400, and a discount rate of 14%. What is the discounted payback period for these cash flows if the initial cost is $7,000? What is the discounted payback period for these cash flows if the initial cost is $10,000? What is the discounted payback period for these cash flows if the initial cost is $13,000?

Please solve using excel like in the example shown below. How do I calculate the PV factor at 14%? I don't understand how you get PV factor decimals.

\begin{tabular}{|l|l|l|l|} \hline Year & Cash Flow of Project ($) & PV Factor @8\% & Present Value of Project (\$) \\ \hline 0 & (78,000.00) & 1.00000 & (78,000.00) \\ \hline 1 & 17,300.00 & 0.92593 & 16,018.52 \\ \hline 2 & 17,300.00 & 0.85734 & 14,831.96 \\ \hline 3 & 17,300.00 & 0.79383 & 13,733.2978 \\ \hline 4 & 17,300.00 & 0.73503 & 12,716.016 \\ \hline 5 & 17,300.00 & 0.68058 & 11,774.089 \\ \hline 6 & 17,300.00 & 0.63017 & 10,901.935 \\ \hline 7 & 17,300.00 & 0.58349 & 10,094.384 \\ \hline 8 & 17,300.00 & 0.54027 & 9,346.652 \\ \hline 9 & 17,300.00 & 0.50025 & 8,654.307 \\ \hline & & & 30,071.16 \\ \hline \end{tabular}