1. A proposed project has cash inflows of $52,000 in year 1, $63,000 in year 2, $71,000 in year 3, and $84,000 in year 4, and a discount rate of 14.50%.
   1. What is the discounted payback period for these cash flows if the initial cost is $80,000?
   2. What is the discounted payback period for these cash flows if the initial cost is $110,000?
   3. What is the discounted payback period for these cash flows if the initial cost is $140,000?