McGilla Golf has decided to sell a new line of golf clubs. The clubs will sell for $737 per set and have a variable cost of $367 per set. The company has spent $157000 for a marketing study that determined the company will sell 75,700 per year for seven years. The marketing study also determined that the company will lose sales of 9200 sets per year of its high priced clubs. The high priced clubs sell for $347 and have variable costs of $132 per set. The fixed costs each year will be $11,270,000. The company has spent $1,070,000 on research and development for the new clubs. The plant and equipment required will cost $24,990,000 and will be deprecated on a straight line basis. The new clubs will also require an increase in net working capital of $1,570,000 that will be returned at the end of the project. The tax rate is 30 percent and the cost of capital is 16 percent. Calculate the payback period, the NPV, and the IRR