The payback method helps firms establish and identify a maximum acceptable payback period that helps in their capital budgeting decisions. Consider the case of Columbus Garden Supplies Inc.: Columbus Garden Supplies Inc. is a small firm, and several of its managers are worried about how soon the firm will be able to recover its initial investment from Project GreenThumbs expected future cash flows. To answer this question, Columbus Gardens CFO has asked that you compute the projects payback period using the following expected net cash flows and assuming that the cash flows are received evenly throughout each year. Given the following table, compute the projects conventional payback period. Year Expected Cash Flow 0 -$4,500,000 1 $1,780,000 2 $3,825,000 3 $1,575,000 The conventional payback period for Project GreenThumb is Question Blank 1 of 3 type your answer... years. Round the conventional payback period to two decimal places. If your answer is negative, be sure to use a minus sign in your answer. Since the conventional payback period ignores the time value of money, and Columbus Gardens CFO is concerned. He has now asked you to compute GreenThumbs discounted payback period, assuming the company has a 9% cost of capital. The discounted payback period for Project GreenThumb is Question Blank 2 of 3 type your answer... years. Round the discounted payback period to two decimal places. If your answer is negative, be sure to use a minus sign in your answer. Which version of a projects payback period should the CFO use when evaluating Project GreenThumb, given its theoretical superiority? Question Blank 3 of 3 choose your answer...