McGllla Golf has decided to sell a new line of golf clubs. The clubs will sell for $$880$ per

set and have a varlable cost of $$480$ per set. The company has spent $$158,000$ 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 $10,300$

sets of its high$-$priced clubs. The high$-$priced clubs sell at $$1,180$ and have varlable costs

of $$780.$ The company will also Increase sales of its cheap clubs by $11,800$ sets. The

cheap clubs sell for $$520$ and have varlable costs of $$270$ per set. The fixed costs each

year will be $$9,180,000.$ The company has also spent $$1,190,000$ on research and

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

$$29,260,000$ and will be depreclated on a straight$-$IIne basis. The new clubs will also

require an Increase in net working capital of $$1,380,000$ that will be returned at the end

of the project. The tax rate is $24$ percent, and the cost of capital is $12$ percent.

a$.$ Calculate the payback perlod. $($Do not round Intermedlate calculations and round

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

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

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

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

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