AutoParts Ltd. is considering the purchase of new manufacturing equipment for $350,000, with an expected life of 5 years and no salvage value. The equipment will be depreciated using the straight-line method. It requires an additional $45,000 in working capital, recoverable at the end of year 5. The company’s required rate of return is 14%.

Cash Flows:

Year	Cash Flow
1	$80,000
2	$90,000
3	$100,000
4	$110,000
5	$120,000

Requirements:

1. Calculate the Payback Period.
2. Determine the NPV.
3. Compute the IRR.
4. Calculate the MIRR.
5. Provide a recommendation based on NPV and IRR.