Bright Future Inc. wants to introduce a new product line which involves an initial outlay of $600,000. The projected cash flows are:

Year	Cash Flow
1	$150,000
2	$170,000
3	$190,000
4	$210,000
5	$230,000

Requirements:

1. Calculate the payback period.
2. Calculate the NPV at a 7% discount rate.
3. Calculate the IRR.
4. Assess if the project should be accepted based on NPV and IRR.