Based on the above calculations, we do not recommend the acceptance of this proposal. The negative net present value and the long payback period indicate that the proposal is not financially feasible. The accounting rate of return is also lower than the company's cost of capital which is an indication that the proposal will not meet the company's required rate of return. Furthermore, the internal rate of return and modified internal rate of return are both lower than the company's cost of capital which indicates that the proposal will not generate sufficient returns for the company.