Fujimoto Photography is considering a major expansion of its product line and has estimated the following free cash flows associated with such an expansion. The initial outlay would be \($1,975,000,\) and the project would generate incremental cash flows of \($452,000\) per year for 6 years. The appropriate required rate of return is 9.2 percent.

a. Calculate the NPV.

b. Calculate the PI.

c. Calculate the IRR.

d. Should the project be accepted?