6. The payback period The payback method helps firms establish and identify a maximum acceptable payback period that helps in their capital budgeting decisions. Consider the case of Cute Camel Woodcraft Company: Cute Camel Woodcraft Company is a small firm, and several of its managers are worried about how soon the firm will be able to recover its initial investment from. Project Alpha's expected future cash flows. To answer this question, Cute Camel's cFo has asked that you compute the project's payback period using the following expected net cash flows and assuming that the cash fiows are received evenly throughout each vear, Complete the following table and compute the project's conventional payback period. For full credit, complete the entire table. (Note: Round the conventional payback period to two decimal places. If vour answer is negative, bo sure to use a minus sign in vour answer.) The conventional payback perlod ignores the time value of money, and this concerns Cute Camels CrO. He has now asked you to compute Alphas discounted parback period, assuming the company has a 8% cost of capital, complete the following table and perform any necessary calculations. Round the dipcounted cash flow values to the nearest whole delfor, and the discounted payback period to two decimal places. For fult credit, cemplete the entire table, (Noteit If your answer is negative, be sure to use a minus sign in your answer)