A project has an initial cost of $56,775, expected net cash inflows of $11,000 per year for 9 years, and a cost of capital of 12%. What is the project's payback period? Round your answer to two decimal places.

years

A project has an initial cost of $40,000, expected net cash inflows of $9,000 per year for 9 years, and a cost of capital of 11%. What is the project's discounted payback period? Round your answer to two decimal places.

years