A project requires an initial investment of $80,000 and has expected cash flows of -$15,000, $11,000, $60,000, and $70,000 in each of the next four years. The discount rate is 5 percent.

a.) What is the NPV of the project?

b.) What is the profitability index of the project?

c.) What is the payback period of the project?

d.) What is the modified IRR of the project if the finance rate is 5% and the reinvestment rate is 7%?