Tiger Air, one of the largest Asian airlines in terms of passenger numbers, has enjoyed rapid growth since its establishment in 1980. It has 199 Boeing B-737, with 113 backorders. Assume that a new B-737 NG costs $52 million and generates after-tax cash inflows of $13 million for each of the next ten years.

a. Find the NPV if the airline uses a 6 percent opportunity cost of capital.

b. What is the IRR?

c. What is the payback period?