Cold Goose Metal Works Inc. is a small firm, and several of its managers are worried about how soon the firm will be able to recover its

initial investment from Project Delta's expected future cash flows. To answer this question, Cold Goose's CFO has asked that you

compute the project's payback period using the following expected net cash flows and assuming that the cash flows are received evenly

throughout each year.

Complete the following table and compute the project's conventional payback period. Round the payback period to the nearest two decimal places. Be

sure to complete the entire table$-$even if the values exceed the point at which the cost of the project is recovered.

Cumulative cash flow

Conventional payback period:

years

The conventional payback period ignores the time value of money, and this concerns Cold Goose's CFO. He has now asked you to compute Delta's

discounted payback period, assuming the company has a $8\%$ cost of capital.

Complete the following table and perform any necessary calculations. Round the discounted cash flow values to the nearest whole dollar, and the

discounted payback period to the nearest two decimal places. Again, be sure to complete the entire table$-$even if the values exceed the point

at which the cost of the project is recovered.