A project with an initial investment of $180,000 is forecasted to yield the following net cash flows:

• Year 1: $30,000
• Year 2: $40,000
• Year 3: $50,000
• Year 4: $60,000
• Year 5: $70,000
• Year 6: $80,000

Requirements:

1. Compute the cumulative cash flows each year.
2. Determine the payback period.
3. Calculate the project's NPV at a discount rate of 11%.
4. Compute the IRR.
5. Evaluate the PI.