Beckon Health is reviewing a new project that costs $482,500 and has expected net cash inflows of $91,250 per year for 7 years. The first inflow occurs one year after the cost outflow and the project has a cost of capital of 12%. What is the projects payback in years? 2. The manager of capital budgeting for Little Rock Health System has estimated the following cash flow of dollars for a proposed new clinical service. The project's cost of capital is 10%. Year Expected net cash flow Cumulative Cash Flows 0 ($100,000) a. 1 $70,000 b. 2 $50,000 c. 3 $20,000 Complete letters a, b, and c, showing your calculations. d. What is the payback period?