Pappy's Potato has come up with a new product, the Potato Pet (they are freeze-difled to last longer). Pappy's pald $135,000 tor a marketing survey to determine the vlablity of the product. It is felt that Potato Pet will generate sales of $850,000 per year. The fixed costs associated with this will be $210,000 per year, and variable costs will amount to 22 percent of sales. The equipment necessary for production of the Potato Pet will cost $875,000 and wit be depreclated in a stralght-line manner for the four years of the product Ilfe (as with all fads, it is felt the sales will end quickty). This is the only initial cost for the production. Pappy's has a tax rate of 23 percent and a required return of 15 percent. a. Calculate the payback period for this project. Note: Do not round intermediate calculations and round your answer to 2 decimal pleces, e.9., 32.16. b. Calculate the NPV for this project Note: Do not round intermediate calculations and round your answer to 2 decimal pleces, e.9., 32.16. c. Calculate the IRR for this project. Note: Do not round intermediate caleulations and enter your answer as a percent rounded to 2 decimal places, e.g. 32.16