Please explain

4 Compute the payback period for a project with the following cash flows. The company's discount rate is 12%, the tax rate is 40%, and coffee sells for $22/lb Initial outlay = $400 Free Cash flows: Year 1 300; Year 2 $90; Year 3-$100 Round to the second decimal place. Type only numbers without any unit ($, %, etc.) Please enter a valid real number. Initial Outlay $50 million Year 1 $10 million S20 million S20 million $10 million $5 million Year 2 Year 3 Year 4 Year The required rate of return is 15%. If the firm wants to make the profitability index equal to 1 for Project Alpha, the initial outlay has to be: Round to the nearest hundredth million without a dollar sign. (i.e. if your answer is $12.34 million, then type 12.34 as your answer.)