· Given the following cash flows for a project, calculate the Discounted Payback Period if the discount rate is 9%.

Cash Flows:

• Year 0: -$60,000
• Year 1: $15,000
• Year 2: $20,000
• Year 3: $25,000
• Year 4: $30,000

Requirements:

1. Calculate the Discounted Payback Period.
2. Compare it to the traditional payback period.
3. Discuss the advantages of using the discounted payback period.
4. Evaluate the project's risk if the discount rate changes to 11%.