A new project will have an intial cost of $10,000. Cash flows from the project are expected to be $3,000,$3,500, and $4,000 over the next 3 years, respectively. Assuming a discount rate of 8%, what is the project's Payback Period? 2.70 2.88 3.05 2.79 2.99 Question 7 (10 points) Cash flows from a new project are expected to be $6,000,$10,000,$18,000, and $25,000 over the next 4 years, respectively. Assuming and intial cost of $40,000 and a required return of 10%, what is the project's Pl ? 1.13 1.07 1.15 1.11 1.17