Current Attempt in Progress

Sheridan Unlimited is considering purchasing an additional delivery truck that will have a seven$-$year useful life. The new truck will cost $$39,100.$ Cost savings with this truck are expected to be $$11,900$ for the first two years, $$8,300$ for the following two years, and $$4,700$ for the last three years of the truck's useful life.

What is the payback period for this project? $($Round answer to $2$ decimal places, e$.$g$.52\mathrm{.}75.)$

Payback period years

What is the discounted payback period for this project with a discount rate of $10$ percent? $($Round answer to $2$ decimal places, e$.$g$.52\mathrm{.}75.)$

Discounted payback period

years