A project requires an initial investment of $250,000 and generates cash flows of $70,000 annually for 5 years. The firm's discount rate is 9%. Calculate the project's NPV, IRR, and payback period.

Requirements:

1. Calculate the NPV of the project.
2. Determine the IRR.
3. Compute the payback period.
4. Discuss whether the project should be accepted.
5. Evaluate the risk factors associated with the project.