Management of Cullumber Mints, a confectioner, is considering purchasing a new jelly bean-making machine at a cost of $312,500. They project that the cash flows from this investment will be $134,000 for the next seven years. If the appropriate discount rate is 14 percent, what is the NPV for the project? (Enter negative amounts using negative sign, e.g. -45.25. Do not round discount factors. Round other intermediate calculations and final answer to 0 decimal places, e.g. 1,525.)

NPV $____________

Cullumber Specialties just purchased inventory-management computer software at a cost of $1,652,950. Cost savings from the investment over the next six years will produce the following cash flow stream: $180,340, $260,240, $295,600, $593,250, $716,320, and $767,740. What is the payback period on this investment? (Round answer to 2 decimal places,e.g. 15.25.)

Payback period is

______________ years