have a-c answered and they are correct, so for the life of me I can not figure out how I'm not getting the pay back period correct. please help with part d, pay back period and show work so I can see what I'm missing. thank you so much!

Check my work TopCap Co. is evaluating the purchase of another sewing machine that will be used to manufacture sport caps. The invoice price of the machine is $120,000. In addition, delivery and installation costs will total $5,000. The machine has the capacity to produce 12,000 dozen caps per year . Sales are forecast to increase gradually, and production volumes for each of the five years of the machine's life are expected to be as follows: Use Table 6-4. (Use appropriate factor(s) from the tables provided. Round the Py factors to 4 decimals.) 2019 2020 2021 2022 2023 3,600 dozen 5.600 dozen 8,500 dozen 11,300 dozen 12,000 dozen The caps have a contribution margin of $10.00 per dozen. Fixed costs associated with the additional production (other than depreciation expense) will be negligible. Salvage value and the investment in working capital should be ignored. TopCap Co's cost of capital for this capacity expansion has been set at 8%. Required: The caps have a contribution margin of $5.00 per dozen. Fixed costs associated with the additional production (other than depreciation expense) will be negligible. Salvage value and the investment in working capital should be ignored. TopCap Co.'s cost of capital for this capacity expansion has been set at 16% Required: capital or is capacity expansion nas been set at 10%. Required: a. Calculate the net present value of the proposed investment in the new sewing machine b. Calculate the present value ratio of the investment. c. What is the internal rate of return of this investment relative to the cost of capital? d. Calculate the payback period of the investment. Complete this question by entering your answers in the tabs below. Required A Required B Required Required D Calculate the payback period of the investment. (Do not round intermediate calculations, Round your answer to 2 decimal places.) Payback period years