National Rodeo Association,a Not-For-Profit Organization,is Considering Purchasing a New Enterprise

National Rodeo Association,a not-for-profit organization,is considering purchasing a new enterprise software system for $90,000.This investment is projected to have an eight-year useful life,and a salvage value of $8,800.Its anticipated eight-year life is projected to save the organization approximately $18,000 each year in operating costs.In addition,the association needs an increase of $5,000 in net working capital (other than cash)in the first year,which will not be released until the end of eight years.
Required:
(A)What is the payback period for this proposed investment? (Assume that the cash flows,other than salvage value,occur evenly throughout the year.Round your answer to 2 decimal places. )
(B)If the Association has a required rate of return of 10 percent,what is the net present value (NPV)of this investment? Round your calculation results to whole numbers.(The PV annuity factor for 10%,8 years is 5.335,while the PV factor for 10%,8 years is 0.467. )
(C)What is the internal rate of return (to the nearest whole percent)? (Note: The following present value factors are taken from the present value tables in Appendix C of Chapter 12,for an 8-year period.This information is needed to answer the question. )