(Payback period, NPV, PI, and IRR calculations) You are considering a project with an initial cash outlay of $70,000 and expected free cash flows of $22,000 at the end of each year for 7 years. The required rate of return for this project is 8 percent. a. What is the project's payback period? b. What is the project's NPV? c. What is the project's Pl? d. What is the project's IRR