a. Project L requires an initial outlay at t = 0 of $65,000, its expected cash inflows are $10,000 per year for 7 years, and its WACC is 10%. What is the project's payback? Round your answer to two decimal places. _____ years

b. Project L requires an initial outlay at t = 0 of $60,000, its expected cash inflows are $14,000 per year for 9 years, and its WACC is 13%. What is the project's discounted payback? Do not round intermediate calculations. Round your answer to two decimal places. ____ years