Briarcliff Stove Company is considering a new product line to supplement its range line. It is anticipated that the new product line will involve cash investment of $900,000 at time 0 and $1.5 million in year 1. After-tax cash inflows of $350,000 are expected in year 2, $400,000 in year 3, $450,000 in year 4, and $500,000 each year thereafter through year 6. Find Payback period, net present value and profitability index if the cost of capital is 6.5% for this project.