17) Maskot International is considering investing in an expansion project with initial cash outlay of $100,000. The project is expected to generate cashflows of $40,000 in year 1, $60,000 in year 2, $45,000 in year 3, and $135,000 in year 4. If the cost of capital for Maskot is 10%, calculate the following:

a. Payback period. If the cut-off payback period is 2 years, should Maskot invest in the project?

b. NPV of the project. Based on NPV, should Maskot invest in the project?

c. IRR of the project. Based on the IRR, should Maskot invest in the project?