Linda just graduated from college. Since she is starting her own business, it's time to upgrade from her clunker to a reliable vehicle. tinda has the option to purchase a new car for her business at a cost of $31,416 (life of 7 years with no salvage value), estimating that it would help her bring in additional annual net operating cash flows of $7.700 over the life of the car. Determine the simple payback period and the IRR for this investment. Linda expects her business income to be subject to a 308 tax rate. (Round simpie paybock period to 3 decimal places, es. 15.256 and IRR to 2 decimol places, es. 15.25% Round intermediate calculations to 2 decimal ploces, es. 15.25.) Simple payback period years IRR