Swerling Company is considering a project with the following cash flows. What is the payback period of the proposed Swerling Company project? What is the discounted payback period of the proposed Swerling Company project if the discount rate is 6%?

year o cash flow (20,000)

year 1 cash flow 3,000

year 2 cash flow 4,000

year 3 cash flow 5,000

year 4 cash flow 6,000

year 5 cash flow 7,000