Google LLC is evaluating a capital investment opportunity in a new research and development project. With an initial investment of $2,000,000 and expected annual cash inflows of $500,000, conduct a comprehensive investment appraisal. Calculate the net present value (NPV) and internal rate of return (IRR) of the investment project. Critically analyze the financial viability and strategic implications of proceeding with the project, considering Google's long-term growth objectives and risk tolerance.