Estimate the NPV, IRR, and Payback for the following project:

Year	0	1	2	3	4
Revenues		$ 15,000.00	$ 17,000.00	$ 19,000.00	$ 21,000.00
COGS		$ 7,500.00	$ 8,500.00	$ 9,500.00	$ 10,500.00
Depre		$ 5,000.00	$ 4,000.00	$ 3,000.00	$ 2,000.00
EBIT		$ 2,500.00	$ 4,500.00	$ 6,500.00	$ 8,500.00

Initial investment is 20,000 in Year 0.

Tax rate is 35%. WACC is 12%. Working capital is 15% of revenues in the next year, i.e. working capital needs to be procured before the next year starts, but it is based on the next year's revenue.