If I have a required rate of return at 8%, how to I figure out the present value factor, there was a table provided in my book that got a PVF of .9259 for 1 year @ 8% rate, I don't understand how they arrived at that number and don't know how to get to the subsequent numbers. I'm able to get the IRR by using a calculator but I can't figure out how to get an IRR or NPV without a calculator.

Here is the assignment I'm working on for reference:

Your company is considering undertaking a project to expand an existing product line. The required rate of return on the project is 8% and the maximum allowable payback period is 3 years.

Time

0

1

2

3

4

5

6

Cash Flow

Initial investment $(10,000)

Year 1 $2,400

Year 2 $4,800

Year 3 $3,200

Year 4 $3,200

Year 5 $2,800

Year 6 $2,400

Questions

Evaluate the project using each of the following methods. For each method, should the project be accepted or rejected? Justify your answer based on the method used to evaluate the project's cash flows.

1.Payback period

2.Internal Rate of Return (IRR)

3.Simple Rate of Return

4.Net Present Value