Given the following attributes of an investment project with a five-year life and an after-tax discount rate of 10%, calculate the net present value (NPV) and the payback period of the project: investment outlay, year 0, $8,480; after-tax cash inflows, year 1, $920; year 2, $1,060; year 3, $3,100; year 4, $3,400; and year 5, $4,800. (Use the built-in function of Excel to estimate the NPV of this project.) (Negative amounts should be entered with a minus sign. Round your answers to the nearest whole dollar amount.)

Payback period		Years
Year	After-tax Cash Flows	Cumulative Cash Flows
0
1
2
3
4
5
NPV =