Given the following after-tax cash flows on a new toy for Tyler's Toys, find the project's payback period, NPV, and IRR. The appropriate discount rate for the project is 12%. If the cutoff period is six years for major projects, determine whether management will accept or reject the project under the three different decision models.

Year 0 cash outflow: $10,400,000

Years 1 to 4 cash inflow: $2,600,000 each year

Year 5 cash outflow: $1,200,000

Years 6 to 8 cash inflow: $750,000 each year