yback period, net present value, profitability index, and internal rate of return calculations) You are considering a project with an initial cash outlay of $71,000 and expected cash flows of $19,880 at the end of each year for six years. The discount rate for this project is 10.1 percent. What are the project's payback and discounted payback periods? What is the project's NPV? What is the project's PI? What is the project's IRR? The payback period of the project is 5 years. (Round to two decimal places.)