Dutch Bros. Coffee is a privately held drive-through coffee company, with headquarters in Grants Pass Oregon and over 290 locations in seven states (Oregon, Washington, California, Idaho, Arizona, Nevada, and Colorado). Its core values are focused on Speed, Quality and Service. Its strategy is to grow the drive-through coffee market. While it is growing quickly its growth hasn't taken the company away from its roots and the company donates over $2 million a year to its local communities and nonprofit organizations. The company is currently considering two possible capital investment plans. Plan A would involve opening 100 new shops in Texas at a cost of $8,940,000. Expected net cash inflows are expected to be $1,600,000 per year for 20 years with an estimated residual value of $1,000,000. Plan B is to invest in solar roof top panels at their current drive-through shops at a cost of $8,540,000 with no residual value. This plan is expected to generate net cash inflows of $1,400,000 from savings in electricity per year for 25 years. Dutch Bros. uses straight-line depreciation and requires an annual return of 8%.

Required:
Compute the payback period, the ARR, NPV, and approximate IRR of these two expansion plans.