A project has an initial cost of $70,400, expected net cash inflows of $9,000 per year for 12 years, and a cost of capital of 13%. What is the project's PI? Do not round your intermediate calculations. Round your answer to two decimal places.

A project has an initial cost of $59,275, expected net cash inflows of $14,000 per year for 9 years, and a cost of capital of 11%. What is the project's payback period? Round your answer to two decimal places.