Your firm is considering a project that has the following set of cash flows:

Year Cash Flow

$0$$$500,000$

$1100,000$

$2200,000$

$3250,000$

$4400,000$

What is the $($regular$)$ payback period for this project?

If the required rate of return for the project in problem $1$ is $14$ percent, what is the discounted payback period for the project?