A company plans to invest $350,000 in a project with the following cash inflows. Calculate the NPV, IRR, and payback period. Use a discount rate of 8%.

Cash Flows:

• Year 1: $80,000
• Year 2: $90,000
• Year 3: $100,000
• Year 4: $110,000
• Year 5: $120,000

Requirements:

1. Calculate the payback period.
2. Calculate the NPV.
3. Calculate the IRR.
4. Compare the IRR to the company's required rate of return of 8%.