please show all steps for discount payback period

FIND THE DISCOUNT PAYBACK PERIOD: SHOW ALL WORK Goodweek Tires, Inc. After extensive research and development, Goodweek Tires, Inc., has recently developed a new tiro, the Super Tread, and must decide whether to make the investment necessary to produce and market it. The tire would be ideal for drivers doing a large amount of wet weather and off-road driving in addition to normal freeway usage. The research and development costs so far have totaled about $10 million. The Super Tread would be put on the market beginning this year, and Goodweek expects it to stay on the market for a total of four years. Test marketing costing $5 million has shown that there is a significant market for a Super Troad-type tire. As a financial analyst at Goodwook Tires, you have been asked by your CFO, Adam Smith, to ovaluate the Super Troad project and provide a recommendation on whether to go ahead with the investment. Except for the initial investment that will occur Immediately, assume all cash flows will occur at year-end. Goodwook must initially invest $160 million in production equipment to make the Super Tread. This equipment can be sold for $65 million at the end of four years. Goodweek intends to sell the Super Tread to two distinct markets: 1. The original equipment manufacturer (OEM) market: The OEM market consists primarily of the large automobile companies like General Motors) that buy tires for new cars. In the OEM market, the Super Tread is expected to sell for $41 per tire. The variable cost to produce each tire is $29. 2. The replacement market: The replacement market consists of all tires purchased after the automobile has left the factory. This market allows higher margins: Goodweek expects to sell the Super Tread for $62 per tire there. Variable costs are the same as in the OEM market. Goodweek Tires intends to raise prices at 1 percent above the inflation rate: variable costs also will increase at 1 porcent above the inflation rato. In addition, the Super Tread project will incur $43 milon in marketing and general administration costs the first year. This cost is expected to increase at the inflation rate in the subsequent years. Goodwook's corporate tax rate is 23 percent. Annual Inflation is expected to remain constant at 3.25 percent. The company uses a 13.4 percent discount rate to evaluato now product decisions. Automotive industry analysts expect automobile manufacturers to produce 6.2 million new cars this year and for production to grow at 2.5 percent per year thereaftor. Each now car needs four tires (the spare tires are undersized and are in a different category). Goodwook Tires expects the Super Tread to capture 11 percent of the OEM market. Industry analysts estimate that the replacement tire market size will be 32 million tires this year and that it will grow at 2 percont annually. Goodwook expects the Supor Tread to capture an 8 percent market share. The appropriate depreciation schedule for the oquipment is the 7-year MACRS doproclation schedule. The immediato Initial working capital requirement is $9 million. Thereafter, the networking capital requirements will be 15 percent of sales. What are the NPV payback penod, discounted payback period, IRR, and PI on this project