QRS Corporation is planning to purchase one of two machines. The company's cost of capital is 15% and the tax rate is 29%. Below are the details:

Particulars	Machine Y	Machine Z
Cost of machine	19,00,000	21,50,000
Expected life	4 years	4 years
Annual Income (before Tax & Depreciation)	5,50,000	6,75,000

Depreciation is charged on a straight-line basis. You are required to calculate: a. Internal Rate of Return (IRR) b. NPV c. Payback period