Each of the following scenarios is independent. Assume that all cash flows are after$-$tax cash flows.

Colby Hepworth has just invested $$500,000$ in a book and video store. She expects to receive a cash income of $$120,000$ per year from the investment.

Carsen Nabors invested in a project that has a payback period of $4$ years. The project brings in $$960,000$ per year.

Rahn Booth invested $$1,550,000$ in a project that pays him an even amount per year for $5$ years. The payback period is $2\mathrm{.}5$ years.

Yolanda Ramirez has just invested $$1,560,000$ in a new biomedical technology. She expects to receive the following cash flows over the next $5$ years: $$350,000,$ $$490,000,$ $$780,000,$ $$440,000,$ and $$340,000.$

$1.$ What is the payback period for Colby? Round your answer to two decimal places.

fill in the blank $1$ of $1$

$4\mathrm{.}17$

years

$2.$ How much did Carsen invest in the project?

fill in the blank $1$ of $1$$

$3,840,000$

$3.$ How much cash does Rahn receive each year?

fill in the blank $1$ of $1$$

$620,000$

per year

$4.$ What is the payback period for Yolanda? Round your answer to one decimal place.

fill in the blank $1$ of $1$

$7\mathrm{.}9$

years