Evaluate the financial impact of a new renewable energy project at Chevron using NPV, IRR, and payback period methods.

Investment Components	Initial Investment ($)	Annual Cash Flows ($)	Project Life (years)	Discount Rate (%)
Renewable Energy Project	500,000,000	120,000,000	5	6%

Requirements:

Calculate NPV and IRR based on projected cash flows and discount rate.

Determine the payback period for the investment.

Conduct a sensitivity analysis to assess the impact of changes in renewable energy costs.

Provide recommendations on whether to proceed with the renewable energy project.