GHI Enterprises is contemplating a project with an initial outlay of $400,000. The project will generate annual revenues of $130,000 for 5 years, with annual operating expenses (excluding depreciation) of $30,000. The asset will be depreciated on a straight-line basis over 5 years with no salvage value. The tax rate is 30%. Required:

• Determine the Payback Period (PBP) and ARR
• Calculate NPV and PI, given a discount rate of 9%
• Compute the IRR
• Calculate the discounted payback period