Ezra Cornell Earmuffs is trying to enhance the products it provides to customers. Ezra Cornell is looking into the purchase of new high-efficiency stitching machines that will allow for the use of hand-warmers in making the earmuffs. Ezra estimates the cost of the new equipment at $186, 500. The equipment has a useful life of 8 years. Ezra expects cash fixed costs of $80,000 per year to operate the new machines, as well as cash variable costs in the amount of 5% of revenues. In addition, Ezra evaluates investments using a cost of capital of 7%. Calculate the payback period and the discounted payback period for this investment, assuming Ezra expects to generate $190,000 in revenues every year from the new machines. Assume instead that Ezra expects the following uneven stream of cash revenues from installing the new stitching machines: Based on this estimated revenue stream, what are the payback and discounted payback periods for the investment