A firm plans to invest in a new technology project with an initial outlay of $650,000. The project has a 5-year life and no salvage value. It will generate annual net cash inflows of $140,000. The firm's tax rate is 30%. The present value factors for 5 years are as follows:

Discount Rate	Cumulative Factors
8%	3.993
10%	3.791
12%	3.605
14%	3.433
16%	3.274

Requirements:

1. Calculate the NPV at each discount rate.
2. Determine the IRR of the project.
3. Analyze the impact of tax rate on the project's NPV.
4. Recommend whether to proceed with the investment based on financial metrics.