HealthTech Corp. is planning to invest in a project that requires an initial investment of $1,000,000. The expected cash inflows are as follows:

Year	Cash Flows
0	-$1,000,000
1	$250,000
2	$300,000
3	$350,000
4	$400,000

a. Calculate the payback period for the project. b. If the company's cost of capital is 8%, calculate the NPV and determine if the project should be accepted.