Pappy's potato has come up with a new product, the potato pet. They paid $120,000 for a marketing survey to determine the viability of the product. It is felt that Potato Pet will generate sales of $815,000 per year. The fixed costs associated with this will be $196,000 per year and variable costs will amount to 20% of sales. The equipment necessary for production will cost $865,000 and will be depreciated straight line over 4 years. This is the only initial cost for production. Use a 40% tax rate and a required return of 13%. In the blanks below: Payback Answer NPV can solve after 2nd attempt. answer given IRR can solve after 2nd attempt answer given PI Ican solve after 2nd attempt answer given