Consider a project with the following details:

• Initial investment: $12,000
• Annual cash inflows: $4,000 for 4 years
• Depreciation (straight-line over 4 years): $3,000 per year
• Cost of capital: 9%

Requirements:

1. Calculate the NPV.
2. Determine the Accounting Rate of Return (ARR).
3. Compute the payback period.
4. Evaluate the project's IRR.