A company is considering launching a new division that requires an initial investment of $1,000,000. The expected cash inflows are:

• Year 1: $200,000
• Year 2: $300,000
• Year 3: $400,000
• Year 4: $500,000
• Year 5: $600,000

Requirements:

1. Calculate the NPV if the discount rate is 10%.
2. Calculate the IRR.
3. Determine the payback period.
4. Should the company launch the new division based on NPV and IRR?