(Payback period, NPV, Pl, and IRR calculations) You are considering a project with an initial cash outlay of $85,000 and expected free cash flows of $26,000 at the end of each year for 7 years. The required rate of return for this project is 7 percent. a. What is the project's payback period? b. What is the project's NPV ? c. What is the project's PI ? 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.)