4) You are a real estate agent thinking of placing a sign advertising your services at a local bus stop. The sign will cost $5,100 and will be posted for one year. You expect that it will generate additional revenue of $918 a month. What is the payback period? The payback period is nothing months.(Round to one decimal place.)

5)

You have just been offered a contract worth $1.06 million per year for 77 years. However, to take the contract, you will need to purchase some new equipment. Your discount rate for this project is 12.2%. You are still negotiating the purchase price of the equipment. What is the most you can pay for the equipment and still have a positive

NPV?

The most you can pay for the equipment and achive the 12.2% annual return is $ million.(Round to two decimal places.)