Alphabet Inc. invests $3 billion in a project that generates annual profits of $600 million. The project's useful life is 12 years, and there is no salvage value.

Required:

• Calculate the average annual ROI for Alphabet Inc.
• Determine the payback period for the investment.
• Analyze the profitability index of the investment.
• Calculate the net present value (NPV) assuming a discount rate of 8%.
• Determine whether Alphabet Inc. should proceed with the investment based on the NPV analysis.