Darfield Trading Incorporated is considering to invest in a new project. The initial investment for the project is $5,000,000 and it is expected to provide operating cash inflows of $1,800,000 in year 1, $1,900,000 in year 2, $1,700,000 in year 3, and $1,800,000 in year 4. Calculate the payback period for the new project. Calculate the discounted payback period assuming the firms cost of capital is 8 percent. Should Darfield Trading invest in the new project if the company has a policy that any new project must have a payback period of less than 3 years AND discounted payback period of less than 4 years? Which method is better, normal payback period or discounted payback period? Explain your answer.