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

$$905$ per set and have a variable cost of $$439$ per set. The company has spent

$$220,000$ for a marketing study that determined the company will sell $82,000$

sets per year for seven years. The marketing study also determined that the

company will lose sales of $8,700$ sets per year of its high$-$priced clubs. The

high$-$priced clubs sell at $$1,335$ and have variable costs of $$655.$ The company

will also increase sales of its cheap clubs by $11,000$ sets per year. The cheap

clubs sell for $$348$ and have variable costs of $$147$ per set. The fixed costs

each year will be $$14,550,000.$ The company has also spent $$1,700,000$ on

research and development for the new clubs. The plant and equipment

required will cost $$45,900,000$ and will be depreciated on a straight$-$line basis.

The new clubs will also require an increase in net working capital of

$$3,725,000$ that will be returned at the end of the project. The tax rate is $22$

percent, and the cost of capital is $13$ percent. Calculate the payback period, the

NPV$,$ and the IRR.

Note: Do not round intermediate calculations and round your answers to $2$

decimal places, e$.$g$.,32\mathrm{.}16.$ Enter your IRR answer as a percent.