You are considering a project that will require an initial outlay of $54,200. This project has an expected life of 5 years and will generate free cash flows to the company as a whole of $20,608 at the end of each year over its 5-year life. In addition to the $20,608 cash flow from operations at the end of the fifth and final year, there will be an additional free cash inflow of $13,200 at the end of the fifth year associated with the salvage value of the machine, making the cash flow in year 5 equal to $33,808. Given the required rate of return of 15%, calculate the following: a) payback period, b) NPV, c) PI, and d) IRR.