A project has an initial cost of $38,975, expected net cash inflows of $13,000 per year for 6 years, and a cost of capital of 11%. What is the project's PI? ( Hint: Begin by constructing a time line.)...

A project has an initial cost of $38,975, expected net cash inflows of $13,000 per year for 6 years, and a cost of capital of 11%. What is the project's PI? (Hint: Begin by constructing a time line.) Do not round intermediate calculations. Round your answer to two decimal places.

A project has an initial cost of $40,000, expected net cash inflows of $9,000 per year for 7 years, and a cost of capital of 11%. What is the project's discounted payback period? (Hint: Begin by constructing a time line.) Do not round intermediate calculations. Round your answer to two decimal places.