A manufacturing company is analyzing a new machine with the following cash flows:

• Initial investment: $4,000,000
• Year 1: $1,000,000
• Year 2: $1,200,000
• Year 3: $1,400,000
• Year 4: $1,600,000

The discount rate is 8%.

• Calculate the NPV.
• Determine the IRR.
• Calculate the MIRR.
• If the required IRR is 10%, should the project be accepted?
• Compute the discounted payback period.