CANNOT use excel for this problem.

Time	0	1	2	3	4
Cash Flow	-5,000	3,000	2,000	1,000	3,000

a. Compute the payback period and discounted payback period (using a 10 percent discount rate) and then tell me if you would accept the project under either rule if the acceptable payback period is 2.5 years.

b. Compute the NPV using a 20-discount rate and tell me if you would accept the project and why.

c. Compute the IRR and then tell me if you would accept the project if the required rate of return is 20 percent and why.

d. Compute the Modified IRR, using a 10 percent reinvestment rate, and then tell me if you would accept the project if the required rate of return is 20 percent and why.