The board of directors of Halliburton International has just approved an $18 million worldwide engineering construction design contract. The services are expected to generate new annual net cash flows of $3 million. The contract has a potentially lucrative repayment clause to Halliburton of $3 million at any time that the contract is canceled by either party during the 10 years of the contract period. (a) If i= 15%, compute the payback period. (b) Determine the noreturn payback period and compare it with the answer for i = 15%. This is an initial check to determine if the board made a good economic decision. Show both hand and spreadsheet solutions.