6. A project has the following total (or net) cash flows.

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Year Total (or net) cash flow

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1- $20,000

2- 30,000

3- 50,000

4- 60,000

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The required rate of return on the project is 15 percent. The initial investment (or initial cost or initial outlay) of the project is $80,000.

a) Find the net present value (NPV) of the project.

b) Find the profitability index (PI) of the project.

c) Calculate the modified internal rate of return (MIRR) of the project.