Project L requires an initial outlay at t = 0 of $72,043, its expected cash inflows are $14,000 per year for 8 years, and its WACC is 11%. What is the project's IRR? Round your answer to two decimal places.

Project L requires an initial outlay at t = 0 of $65,000, its expected cash inflows are $12,000 per year for 9 years, and its WACC is 9%. What is the project's discounted payback? Do not round intermediate calculations. Round your answer to two decimal places.