Virginia owns a local arcade. She is considering updating by putting in seven new pin-setting machines. The current machines allow for 56,000 bowled games per year at $5.00 per game. Despite being old, they have held up well and only require a total of $1,700 per year in maintenance. The seven current machines can be sold to individuals for in-home use for $800 each.

The total cost of the new machines is $273,000, installation is an additional $7,000, and those costs are incurred today (i.e., at t=0). The new machines will have a useful life of 4 years and can be depreciated in a straight-line method over these 4 years. At the end of the 4 years, they are expected to have a salvage/scrap value of $1,100 each.

The machines will reset the pins faster after each bowler rolls, thus making the bowling alley more attractive to customers. Based on a market survey, it is expected that the machines will increase the number of games bowled to 65,000 per year. The price of each game is now $6.00 per game. The new machines will have annual maintenance expenses of $2,000 per year.

Virginia faces a 34.00% tax rate, and it has a cost of capital of 8.00%.

What is the normal Payback Period for the project?

What is the Discounted Payback Period for the project? What is the IRR for this project?

What is the NPV for this project?

Use at least 5 decimal places in every answer.