10 6 Payback period NPV PI and IRR calculations You are considering a proj ect with an initial cash outlay of 80 000 and expected free cash flows of 20 000 at the end of each year for 6 years The required rate of return for this project is 10 percent a What is the project s payback period b What is the project s NPV c What is the project s PI d What is the project s IRR