1. Calculate the NPV of the following project cash flows which come in at the end of the year: $500 in Year 1, $700 in Year 2, and $1000 in Year 3; using a discount rate of 7%. The firm has a net expense of $1700 at the beginning of the project. 

2. How does the NPV change if we use a discount rate of 3% instead?

  

3. What about 10%?

  

4. What is the IRR of the project?

  

5. What is the Payback Period (in years) of the project?