Overland Corporation has gathered the following data on a proposed investment project:

Investment required in equipment: $150,000

Annual cash inflow: $40,000

Salvage value of equipment: $0

Life of the investment: 10 years

Required rate of return: 10%

The company uses straight-line depreciation on all equipment. Assume cash flows occur uniformly throughout a year except for the initial investment.

The payback period for the investment is: A. 0.27 years B. 3.75 years C. 10.00 years D. 2.13 years

The net present value of this investment is: A. $40,000 B. $3,625 C. $57,831 D. $95,800

The internal rate of return on the investment is closest to: A. 23% B. 25% C. 24% D. 21%

Please post steps because I have no idea how to do this type of problem!