1. L05 The expected profits from an $80,000 investment are $15,000 in Year 1 and $20,000 in each of Years 2 to 7. a. What is the investment's payback period? b. If the firm's required payback period is four years, will it make the investment? c. If the firm's cost of capital is 8%, will it make the investment based on the NPV criterion