A firm is considering investing in a project with the following cash flows: (ex: Year 1 is 2,000 and so on)

1. 2,000
2. 3,000
3. 4,000
4. 3,500
5. 3,000
6. 2,000
7. 1,000
8. 1,000

The project requires an initial investment of $12,500, and the firm has a required rate of return of 10 percent. Compute the payback, discounted payback, and net present value, and determine whether the project should be accepted.