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A process for producing the mosquito repellant Deet has an initial investment of $155,000 with annual costs of $45,000. Income is expected to be $90,000 per year.

What is the payback period at i = 0% per year? At i = 12% per year? (Note: Round your answers to the nearest integer.)

The payback period at i = 0% is determined to be________ years.

The payback period at i = 12% is determined to be _______ years.