What is the payback period for the following set of cash flows? Year 0: ($2,900), Year 1: $2,500, Year 2: $2,400, Year 3: $1,300, Year 4: $1,000. Is it 1.12 years, 1.19 years, 1.22 years, 1.47 years or 1.17 years?

If the firm evaluates all of its projects by using the NPV decision rule and the cash flows are: Year 0: ($28,000), Year 1: $19,000, Year 2: $15,000, Year 3: $11,000. What is the NPV of this project if the required rate of return is 19%? What if the required rate of return is 37%?