Survivor, Inc. is considering investing in two independent projects: a modified fishing vessel and a bear trap. The cash outlay for the fishing vessel is $45,000, and for the bear trap it is $35,000. Each piece of equipment has an estimated life of 5 years. The expected annual after-tax cash flow to be provided by the fishing vessel is $12,500 each of the 5 years, and for the bear trap it is $8,500 each year. The firms required rate of return is 8%. Calculate the Payback Period for the Fishing Vessel. Calculate the Discounted Payback Period for the Fishing Vessel. What is the Discounted Payback Period for the Bear Trap? Calculate the Net Present Value for the Fishing Vessel. Calculate the Net Present Value for the Bear Trap. Calculate the Internal Rate of Return (IRR) for the Fishing Vessel. Calculate the Internal Rate of Return (IRR) for the Bear Trap. Based upon the NPV results, which project(s) should be accepted for investment? When evaluating a project using the Internal Rate of Return (IRR) method, what is the standard decision-making rule?