Jack Sprat Inc. wants to know if they invest 10,436 in new exercise equipment, plus $2,000 for installation, how long before they will receive their initial invest back from future cash flows? What is the payback period for the initial costs? Projected Cash flows Year 1: 5,000 Year 2: 7,000 Year 3: 4,000 Year 4: 1,000 Post your answer as number of years with 2 decimal places, for example 5.55 Your financial advisor is offering you an opportunity to invest in Corporate Bonds. Since you are very interested in diversifying your portfolio with some fixed income investment, you are considering this offer. The bond that matures in 16 years, yields 4.21% and has a coupon rate of 7% paid semiannually. If the par value equals $1,000, what is the most you should be willing to pay for each bond? Round your answer to the nearest penny