$1.$ Briarcliff Stove Company is considering a new product line to supplement its range line.

It is anticipated that the new product line will involve cash investment of $$700,000$ at time $0$ and $$1\mathrm{.}0$ million in year $1.$ After$-$tax cash inflows of $$250,000$ are expected in year $2,$ $$300,000$ in year $3,$ $$350,000$ in year $4,$ and $$400,000$ each year thereafter through year $10.$ Though the product line might be viable after year $10,$ the company prefers to be conservative and end all calculations at that time.

a$.$ If the required rate of return is $15$ percent, what is the net present value of the project?

Is it acceptable?

b$.$ What is its internal rate of return?

c$.$ What would be the case if the required$|$ rate of return was $10$ percent?

d$.$ What is the project's payback period?

Please don't use excel to solve do it step by step I need to learn