McGilla Golf has decided to sell a new line of golf clubs. The clubs will sell for $$880$ per set and have a variable cost of $$419$ per set. The company has spent $$170,000$ for a marketing study that determined the company will sell $77,000$ sets per year for seven years. The marketing study also determined that the company will lose sales of $8,450$ sets per year of its high$-$priced clubs. The high$-$priced clubs sell at $$1,310$ and have variable costs of $$630.$ The company will also increase sales of its cheap clubs by $10,500$ sets per year. The cheap clubs sell for $$328$ and have variable costs of $$132$ per set. The fixed costs each year will be $$14,050,000.$ The company has also spent $$1,200,000$ on research and development for the new clubs. The plant and equipment required will cost $$40,400,000$ and will be depreciated on a straight$-$line basis. The new clubs will also require an increase in net working capital of $$3,475,000$ that will be returned at the end of the project. The tax rate is $22$ percent, and the cost of capital is $12$ 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.

$\backslash$table$[[$Payback period,,$5\mathrm{.}70,$years$],[$Net present value,$s,26,923,811\mathrm{.}87,],[$Internal rate of return,,$14\mathrm{.}07,\%$