Comparing all methods. Risky Business is looking at a project with the following estimated cash flow: $$ Risky Business wants to know the payback period, NPV$,$ IRR, MIRR, and PI of this project. The appropriate discount rate for the project is $13\%.$ If the cutoff period is $6$ years for major projects, determine whether the management at Risky Business will accept or reject the project under the five different decision models.

What is the payback period for the new project at Risky Business?

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

Data table

$($Click on the following icon $$ in order to copy its contents into a spreadsheet.$)$

Initial investment at start of project: $$12,300,000$

Cash flow at end of year one: $$2,214,000$

Cash flow at end of years two through six: $$2,460,000$ each year Cash flow at end of years seven through nine: $$2,656,800$ each year Cash flow at end of year ten: $$2,043,692$