Project L requires an initial outlay at t = 0 of $73,832, its expected cash inflows are $14,000 per year for 8 years, and its WACC is 10%. What is the project's IRR? Round your answer to two decimal places. % Project L requires an initial outlay at t = 0 of $64,000, its expected cash inflows are $14,000 per year for 8 years, and its WACC is 9%. What is the project's payback? Round your answer to two decimal places. years