A project with an initial cost of $40,000 (Year 0) with a life of 5 years is under consideration. The annual benefits and costs at end of Year 1 to end Year 5 are expected at $25,000 and $10,000 respectively. The discount rates at 3% for end of year 1 to year 5 are .978, .943, .915, .888, and .863. Compute the NPV (net present value) of this project and the Payback period.