Bill plans to open a do-it-yourself dog bathing center in a storefront. The bathing equipment will cost $160,000. Bill expects the after-tax cash inflows to be $40,000 annually for 7 years, after which he plans to scrap the equipment and retire to the beaches of Jamaica. 26. What is the project's payback period? A) 1.5 years B) 2.0 years C) 3.3 years D) 4.0 years E) 4.3 years 27. Should you accept the project if your acceptable payoff period is five years? A) Yes B) No 28. Assume the required return is 10%. What is the project's NPV? A) $14,111 B) $27,322 C) $32,556 D) $34,737 E) $45,001 29. Assume the required return is 17%. What is the project's IRR? Should it be accepted? A) 12.2%; yes B) 12.2%; no C) 16.3%; yes D) 16.3%; no E) 17.0%; indifferent 30. Assume the required return is 15%. What is the project's PI? Should it be accepted? A) 0.88; yes B) 0.88; no C) 1.00; indifferent D) 1.04; yes E) 1.04; no