McGilla Golf has decided to sell a new line of golf clubs. The clubs will sell for $$740$ per

set and have a variable cost of $$340$ per set. The company has spent $$144,000$ for a

marketing study that determined the company will sell $56,000$ sets per year for seven

years. The marketing study also determined that the company will lose sales of $8,900$

sets of its high$-$priced clubs. The high$-$priced clubs sell at $$1,040$ and have variable costs

of $$640.$ The company will also increase sales of its cheap clubs by $10,400$ sets. The

cheap clubs sell for $$380$ and have variable costs of $$200$ per set. The fixed costs each

year will be $$9,040,000.$ The company has also spent $$1,050,000$ on research and

development for the new clubs. The plant and equipment required will cost

$$28,280,000$ and will be depreciated on a straight$-$line basis. The new clubs will also

require an increase in net working capital of $$1,240,000$ that will be returned at the end

of the project. The tax rate is $25$ percent, and the cost of capital is $10$ percent.

a$.$ Calculate the payback period. $($Do not round intermediate calculations and round

your answer to $3$ decimal places, e$.$g$.,32\mathrm{.}161.)$

b$.$ Calculate the NPV$.($Do not round intermediate calculations and round your answer

to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

c$.$ Calculate the IRR. $($Do not round intermediate calculations and enter your answer as

a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$