Logan's Company is interested in purchasing a state-of-the-art machinery for its manufacturing plant. This new machine will cost $100,000 and will have no salvage value at the end of its 5 year useful life. The projected net cash inflows for the 5 years are $32,000, $57,000, $5,000, $28,000, and $16,000. Logan's Company cost of capital rate is 10%.

a.) What is the payback period? Express your answer in 2 places after decimal.

b.)What is the net present value of this investment?