Nancy is considering buying 200 acres of land for

$2,000,000, she expects to lease the land to a farmer which will result in profits of $200,000 in the first year, $900,000 for the next two years, and $550.000 in years 4 through 6.

What are the payback period? =

and the discounted payback period? =

on the investment if Nancy's required rate of return is 12%?