McGilla Golf has decided to sell a new line of golf clubs. The clubs will sell for $850 per set and have a variable cost of $450 per set. The company has spent $155,000 for a marketing study that determined the company will sell 59,00 company will lose sales of 10,000 sets of its high-priced clubs. The high-priced clubs sell at $1,150 and have variable costs of $750. The company will also increase sales of its cheap clubs by 11,500 sets. The cheap clubs sell for $490 and have variable costs of $255 per set. The fixed costs each year will be $9,150,000. The company has also spent $1,160,000 on research and development for the new clubs. The plant and equipment required will cost $29,050,000 and will be depreciated on a straight-line basis. The new clubs will also require an increase in net working capital of $1,350,000 that will be returned at the end of the project. The tax rate is 40 percent, and the cost of capital is 10 percent. 0 sets per year for seven years. The marketing study also determined that the Calculate the payback period. (Do not round intermediate calculations. Round your answer to 3 decimal places, e.g., 32.161.) Payback period years Calculate the NPV. (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.) NPV Calculate the IRR. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) IRR