Consider two mutually exclusive new product launch projects that Nagano Golf is considering. Assume the discount rate for both products is 15 percent.

Project A:	Nagano NP-30.
	Professional clubs that will take an initial investment of $675,000 at Year 0.
	For each of the next 5 years (Years 1-5), sales will generate a consistent cash flow of $224,000 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 $430,000 at Year 0.
	Cash flow at Year 1 is $125,000. 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.

Year	NP-30	NX-20
0	$ 675,000	$ 430,000
1	224,000	125,000
2	224,000	137,500
3	224,000	151,250
4	224,000	166,375
5	224,000	183,013

complete the following table for each project:

Payback =

IRR =

PI =

NPV =