HealthTech Ltd. is evaluating an investment in new diagnostic equipment costing $550,000, with an expected life of 5 years and no residual value. It will be depreciated using the straight-line method. The project requires $40,000 in additional working capital, recoverable at the end of year 5. The company's hurdle rate is 13%.

Cash Flows:

• Year 1: $110,000
• Year 2: $130,000
• Year 3: $150,000
• Year 4: $170,000
• Year 5: $190,000

Requirements:

1. Calculate the Payback Period.
2. Compute the NPV.
3. Determine the IRR.
4. Calculate the PI.
5. Provide a recommendation based on the financial analysis.