Company is evaluating a capital expenditure proposal that has the following predicted cash flows:

Original investment $45,000

Cash flow:

Year 1 $17,500

Year 2 $25,000

Year 3 $15,000

Salvage value -0-

Discount rate 14 percent

Required:

Determine the following values:

a. Net present value of the investment

b. Proposal's internal rate of return

c. Payback period

Please show the calculation.