ABC Corporation is considering a new investment of €700,000 in a project with the following projected cash inflows:

• Year 1: €140,000
• Year 2: €150,000
• Year 3: €160,000
• Year 4: €170,000
• Year 5: €180,000

The project will be depreciated on a straight-line basis over 5 years with no residual value. The company's tax rate is 20%, and the discount rate is 9%.

Requirements:

1. Calculate the annual depreciation expense.
2. Determine the Net Present Value (NPV).
3. Find the Internal Rate of Return (IRR).
4. Calculate the Payback Period.
5. Assess the project's feasibility using NPV and IRR.