Need a detailed explanation please. Been looking online for a while and cannot find a detailed explanation.

The management of Unter Corporation, an architectural design firm, is considering an investment with the following cash flows: Year Investment Cash Inflow AWNP $60,000 $ 2,000 $ 4,000 $ 4,000 $ 8,000 $ 9,000 $12, 000 $10, 000 $ 8,000 $ 5,000 $ 4,000 10 $ 4,000 Required: 1. Determine the payback period of the investment. 2. Would the payback period be affected if the cash inflow in the last year were several times as large? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the payback period of the investment. (Round your answer to 1 decimal place.) Payback period 3.0 years