Given the following information about the cash flows of a project that lasts for 6 years, answer the next 3 questions. The initial outlay is $100,000 , incremental cash flows for the next 6 years are $20,000 , $30,000 , $40,000 , $40,000 , $70,000 , $70,000. The discount rate is 13%.

1. What is the pay back period of the project?

2. What is the NPV of the project?

3. What is the IRR of the project?