A company is considering investing in a new project that requires an initial investment of $50,000. The project will generate the following cash flows over five years: Year 1: $12,000, Year 2: $14,000, Year 3: $16,000, Year 4: $18,000, Year 5: $20,000. The company expects a return of 10%. Calculate the Net Present Value (NPV) and Internal Rate of Return (IRR) for this project. Additionally, determine the payback period for this investment.