Consider two mutually exclusive new product launch projects that Nagano Golf is considering. The NX-20 project is a proposed high-end amateur clubs that requires an initial investment of $420,000 at Time 0, Cash flow at year 1 is $120,000. Cash flows will grow at approximately 10% for the next 4 years, with the actual cash forecast by year shown below. The introduction of a new product at year 6 will terminate further cash flows from this project. (See financial data below). Assume a discount rate for both products is 15% where necessary to solve the following problems. Year NP-30 NX-20 0 -$660,000-$420,000 1 $222,000 $120,000 2 $222,000 $132,000 3 $222,000 $145,000 4 $222,000 $199,720 5 $222,000 $206,692 What is the undiscounted Payback Period for project NX-20 2.78 years 4.63 years 3.12 years 3.58 years 4.33 years