Hunter, Inc., is considering a project that would have a five-year life and would require a $550,000 investment in equipment. At the end of five years, the project would terminate and the equipment would have no salvage value. The project would provide net operating income each year as follows: Sales $750,000 Variable Expenses 500,000 Contribution Margin 250,000 Fixed Expenses: Fixed out-of-pocket cash expenses 100,000 Depreciation 30,000 130,000 Net Operating Income $120,000 All of the above items, except for depreciation, represent cash flows. The company's required rate of return is 10%. Required: a. Compute the project's net present value. b. Compute the project's internal rate of return to the nearest whole percent. c. Compute the project's payback period.