McGilla Golf has decided to sell a new line of golf clubs. The clubs will sell for $$970$ per set and have a variable cost of $$491$ per set.

The company has spent $$350,000$ for a marketing study that determined the company will sell $95,000$ sets per year for seven years.

The marketing study also determined that the company will lose sales of $9,350$ sets per year of its high$-$priced clubs. The high$-$priced

clubs sell at $$1,400$ and have variable costs of $$720.$ The company will also increase sales of its cheap clubs by $12,300$ sets per year.

The cheap clubs sell for $$400$ and have variable costs of $$186$ per set. The fixed costs each year will be $$15,850,000.$ The company

has also spent $$3,000,000$ on research and development for the new clubs. The plant and equipment required will cost $$60,200,000$

and will be depreciated on a straight$-$line basis. The new clubs will also require an increase in net working capital of $$4,375,000$ that

will be returned at the end of the project. The tax rate is $25$ percent, and the cost of capital is $14$ 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. McGilla Golf has decided to sell a new line of golf clubs. The clubs will sell for $$970$ per set and have a variable cost of $$491$ per set. The company has spent $$350,000$ for a marketing study that determined the company will sell $95,000$ sets per year for seven years. The marketing study also determined that the company will lose sales of $9,350$ sets per year of its high$-$priced clubs. The high$-$priced clubs sell at $$1,400$ and have variable costs of $$720.$ The company will also increase sales of its cheap clubs by $12,300$ sets per year. The cheap clubs sell for $$400$ and have variable costs of $$186$ per set. The fixed costs each year will be $$15,850,000.$ The company has also spent $$3,000,000$ on research and development for the new clubs. The plant and equipment required will cost $$60,200,000$ and will be depreciated on a straight$-$line basis. The new clubs will also require an increase in net working capital of $$4,375,000$ that will be returned at the end of the project. The tax rate is $25$ percent, and the cost of capital is $14$ 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.