please solve this question in word format

Answer the question. Miner's Mexican Grill Inc. plans to open its 100th restaurant by the end of next year. The new restaurant will require an initial investment of $300,000 and an annual operating cost of $31,000. It will be liquidated after 12 years. The company also estimates that the new restaurant will bring in revenue of $91,000 each year. The company's minimum attractive rate of return is 20%. a. Calculate the (simple) payback period. b. Use the present worth (NPV) method to determine whether the new restaurant investment should be made 1 in FB I WO DR := !%$ * X