What is the exact payback period for this project below, rounded to two decimal places:

Project X

Year $0-$$$7,000$

Year $1$ $$2,500$

Year $2$ $$2,500$

Year $3$ $$1,000$

Year $4$ $$1,500$

Year $5$ $$2,500$

What is the exact payback period for this project below, rounded to two decimal places:

Project X

Year $0-$$$7,000$

Year $1$ $$2,500$

Year $2$ $$2,500$

Year $3$ $$1,000$

Year $4$ $$1,500$

Year $5$ $$2,500$