Comparing all methods. Given the following after$-$tax cash flow on a new toy for Tyler's Toys, find the project's payback period, NPV$,$ and IRR. The appropriate discount rate for the project is $12\%.$ If the cutoff period is $6$ years for major projects, determine whether management will accept or reject the project under the three different decision models.

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Initial cash outflow: $$13,700,000$

Years one through four cash inflow: $$3,425,000$ each year

Year five cash outflow: $$1,370,000$

Years six through eight cash inflow: $$590,667$ each year

What is the payback period for the new toy at Tyler's Toys?

years $($Round to two decimal places$)$