Your neighbour has offered to let you in on their most recent investment opportunity: a time-share on Figi Island. The investment requires a payment of $47000 upfront, and will generate $7000 per year for 8 years. According to the simple payback method, how many years will it take to recoup your investment? Round your answer to two decimal places. For example, if your answer is 1.2345, enter 1.23. J's Warehouse purchased a $13000 machine to replace an old machine that is sold today for $1000. Both machines are in the same class, with a 25% depreciation rate. The new machine allows the company to hold lower inventory, so the company will decrease inventory by $1300. What is the initial free cash flow associated with this replacement project? Make your answer accurate to pennies without the dollar sign. For example, if your answer is 12345.6789, enter 12345.68.