You have recently assumed the role of CFO at your company. The company's CEO is looking to expand its operations by investing in new property, plant, and equipment. You are asked to do some capital budgeting analysis that will determine whether the company should invest in these new plant assets. -The firm is looking to expand its operations by 10% of the firm's net property, plant, and equipment= 2020 = $87,348 million, increase 10% = $8,734.80 million to total $96,082.80 million -The estimated life of this new property, plant, and equipment will be 12 years. The salvage value of the equipment will be 5% of the cost. -EBIT = 18% of the project's cost -The hurdle rate for this project will be the WACC = 8.0% Calculate the discounted payback period.