\#3: Your boss has asked you for the Payback Period and IRR for the project you have proposed, but you cannot remember the project initial cost. You know that the project will generate positive cash flows of $80,000 per year at the end of each of the next 4 years, that its NPV is $45,000, and that the company's WACC is 7%. a) What is the project Payback Period? b) What is the project IRR