Consider two mutually exclusive new product launch projects that Nagano Golf is considering. Assume the discount rate for both products is 14 percent.

Project A:Nagano NP-30.Professional clubs that will take an initial investment of $650,000 at Year 0.For each of the next 5 years, (Years 1-5), sales will generate a consistent cash flow of $285,000 per year.Introduction of new product at Year 6 will terminate further cash flows from this project.

Project B:Nagano NX-20.High-end amateur clubs that will take an initial investment of $680,000 at Year 0.Cash flow at Year 1 is $200,000. In each subsequent year, cash flow will grow at 10 percent per year.

Introduction of new product at Year 6 will terminate further cash flows from this project.

What is the following for both?

1. Payback period
2. NPV
3. IRR
4. PI