What is the Pay back period years and the discounted payback period for Year 0? What is the formula for the pay back period and the discounted payback period?

	Year 0	Year 1	Year 2	Year 3	Year 4	Year 5
Nurse Triage Salaries	$ 523,800	$ 549,990	$ 577,490	$ 606,364	$ 636,682	$ 668,516
Forecasted ER Cost Reductions	$ 400,000	$ 800,000	$ 848,000	$ 900,577	$ 955,512	$ 1,013,798
New IT Specialist's Salary	$ 150,000	$ 154,500	$ 159,135	$ 163,909	$ 168,826	$ 173,891
Costs of Facility Renovations	$ 30,000	$ -	$ -	$ -	$ -	$ -
Necessary Capital Equipment Purchases	$ 117,000	$ 3,510	$ 3,510	$ 3,510	$ 3,510	$ 3,510
Net Cash Flow:	-420,800	92,000	107,865	126,794	146,494	167,881
Present Values of Net Cash Flows:	-420,800	82,883	87,546	92,711	96,500	99,629
Net Present Value:	38,469
Internal Rate of Return (IRR):	14.21%
Modified Internal Rate of Return (MIRR):	12.96%
Payback Period (# years):
Discounted Payback Period (# years):
Financial Rate	11%