ARK International (US based) is operating in Globania, a country in Asia. Ignoring exchange rates, compute the NPV, the IRR, the payback, adjusted payback, and the profitability index for a project undertaken by ARK in Globania with cash flows as follows:

YEAR	CASH FLOWS
0	($ 2,000,000)
1	$ 800,000
2	$ 900,000
3	$ 1,200,000
4	$ 1,300,000
5	$ 500,000

Assume the weighted average cost of capital is 10%. Assume that cash flows are received at the end of the year. Should the project be accepted or rejected? Briefly explain your criteria and your decision choice.