You are considering a project with an initial cash outlay of

$71,000

and expected cash flows of

$19,170

at the end of each year for six years. The discount rate for this project is

10.3

percent.

a.  What are the project's payback and discounted payback periods?

b.  What is the project's NPV?

c.  What is the project's PI?

d.  What is the project's IRR?

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Part 1

a.  The payback period of the project is

enter your response here

years.  (Round to two decimal places.)