i. An investment project has an annual cash inflows of RM4,200, RM5,300, RM6,100, and RM7,400, and a discount rate of 14 percent. What is the discounted payback period for these cash flows if the initial cost is RM7,000? What if the initial cost is RM10,000? What if it is RM13,000?

ii. A firm evaluates all of its projects by applying the IRR rule. If the required rate is 16 percent, should the firm accept the following projects?

Year	Cash flow
0	-RM34,000
1	16,000
2	18,000
3	15,000