Project L requires an initial outlay at t 0 of $68,529, its expected cash inflows are $12,000 per year for 11 years, and its WACC is 13 %. What is the project's IRR? Round your answer to two decimal places. % Project L requires an initial outlay at t=0 of $54,000, its expected cash inflows are $9,000 per year for 8 years, and its WACC is 12%. What is the project's payback? Round your answer to two decimal places. years