Stephens Steelworks, Inc. (SSI) manufactures small fishing skiffs. SSIs current model, a16-foot skiff, sells for $22,000 and has a variable cost of $17,600 per unit. SSI is considering manufacturing a new 20-foot skiff. The 20-foot skiff will sell for $26,000 and have a variable cost of$22,100 per unit. To build the new boats SSI will need to rent additional space at a cost of $2,000 per month ($24,000 per year), buy $10,000 in additional inventory and invest $120,000 in additional equipment. The equipment has a 4-year life and a salvage value at the end of the project of $20,000,but will be depreciated to zero (straight-line) over the life of the project. SSI believes they can build and sell three 20-foot skiffs per month (36 per year) over the 4-year life of the project. However, SSIalso believes the addition of the new model will reduce sales of the 16-foot skiffs by 1 unit per month(12 per year). SSIs weighted average cost of capital (WACC) is 12% and its marginal tax rate is20%. What are the payback period, NPV and IRR of the project?