11–24. (Payback period, net present value, profitability index, and internal rate of return
calculations) You are considering a project with an initial cash outlay of $80,000 and
expected cash flows of $20,000 at the end of each year for six years. The discount rate
for this project is 10 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?