A project requires $7,500 initial investment outlay and has the following expected cash flows: Year 1 2 3 4 5 Cash flow $500 $500 $3,000 $3,000 $10,000 1. What is the payback period in years? years 2. What is the internal rate of return? 96 3. What is the profitability index, if the discount rate is 12%