1. A manufacturing company is considering investing in a new production facility. The initial investment for the project is $5 million, and the expected cash flows for the next five years are as follows: Year 1: $1 million, Year 2: $1.5 million, Year 3: $2 million, Year 4: $2.5 million, Year 5: $3 million. Assuming a discount rate of 10%, calculate the net present value (NPV), internal rate of return (IRR), and payback period for the project. Evaluate the investment decision based on these metrics.