Calculate? (a) net present? value, (b) payback? period, (c) discounted payback? period, and? (d) internal rate of return.

Cost of the equipment	$166,000
Reduced labor costs	$45,000
Estimated life of the equipment	10	years
Terminal disposal value	?$0
?After-tax cost of capital	12	?%
Tax rate	20	?%

Assume depreciation is calculated on a? straight-line basis for tax purposes. Assume all cash flows occur at? year-end except for initial investment amounts.

Calculate? (a) net present? value, (b) payback? period, (c) discounted payback? period, and? (d) internal rate of return.