A project has an initial cost of $40,000, expected net cash inflows of $9,000 pr year for 7 years, and cost of capital of 11%.

a) What is the project's NPV? (Hint: Begin by constructing a time line.)

b) What is the project's IRR?

c) What is the project's MIRR?

d) What is the project's PI?

e) What is the project's payback period?

f) What is the project's discounted payback period?

Show your steps of solving the problems.