Payback Period. IRR, and Minimum Cash Flows The management of Mesquite Limited is currently evaluating the following investment proposal: Time 0 Year 1 Year 2 Year 3 Year 4 Initial investment $270,000 Net operating cash inflows S100,000 100,000 $100,000 $100,000 (a) Determine the proposal's payback period 2.7 years (Round answer to one decimal place.) (b) Determine the proposal's internal rate of return. (Refer to Appendix 12B if you use the table approach.) 96 (c) Given the amount of the initial investment, determine the minimum annual net cash inflows required to obtain an internal rate of return of 10 percent. Round the answer to the nearest dollar