(Payback period, NPV, PI, and IRR calculations) You are considering a project with an initial cash outlay of $85,000 and expected free cash flows of $24,000 at the end of each year for 6 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 P/ ? d. What is the project's IRR? a. The project's payback period is years. (Round to two decimal places.) b. The project's NPV is $ (Round to the nearest cent.) c. The the project's P/ is (Round to three decimal places.) d. The project's IRR is %. (Round to two decimal places.) (MIRR) Dunder Mifflin Paper Company is considering purchasing a new stamping machine that costs $600,000. This new machine will produce free cash inflows of $300,000 each year at the end of years 1 through 5 , then at the end of year 7 there will be a free cash oufflow of $150,000. The company has a weighted average cost of capital of 8 percent (use this as the reinvestment rate). What is the MIRR of the investment? The MIRR of the investment is \%. (Round to two decimal places.)