ABC Corp is evaluating the purchase of a new manufacturing equipment costing $450,000. The equipment will be depreciated using the straight-line method over 8 years with no salvage value. It requires an initial working capital investment of $50,000. The annual cash flows expected from this equipment are as follows:

Year	Cash Flow
1	$70,000
2	$80,000
3	$90,000
4	$100,000
5	$110,000
6	$120,000
7	$130,000
8	$140,000

Requirements: (a) Calculate the payback period (PP). (b) Calculate the net present value (NPV) if the discount rate is 10%. (c) Calculate the internal rate of return (IRR). (d) Determine the accounting rate of return (ARR). (e) Should ABC Corp invest in the equipment based on the above calculations?