Comparing all methods. Given the following after$-$tax cash flow 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 $8\%.$ If the cutoff period is $6$ years for major projects, determine whether management will accept or reject the project under the three different decision models.

$($Click on the following icon $$ in order to copy its contents into a spreadsheet.$)$

Initial cash outflow: $$10,000,000$

Years one through four cash inflow: $$2,500,000$ each year

Year five cash outflow: $$1,000,000$

Years six through eight cash inflow: $$470,333$ each year

What is the payback period for the new toy at Tyler's Toys?

years $($Round to two decimal places.$)$

Under the payback period, this project would be $(1)($Select from the drop$-$down menu.$)$

What is the NPV for the new toy at Tyler's Toys?

$($Round to the nearest cent.$)$

Under the NPV rule, this project would be $(2)$

$($Select from the drop$-$down menu.$)$

What is the IRR for the new toy at Tyler's Toys?

$\%($Round to two decimal places.$)$

Under the IRR rule, this project would be $(3)($Select from the drop$-$down menu.$)$

$(1)O$ accepted

$(2)$ rejected

$(3)0$ accepted

rejected

accepted

rejected