Initial investment for a project is $10,000, and scrap value is expected to be $4,200; the expected annual net cash flows generated from an investment are given below.

Years Cash flows

1 2,500

2 2,800

3 3,000

4 3,000

5 3,200

Suppose that the companys WACC is 10%, calculate the IRR, payback period and comment feasibility on the projects (Use the discount factor and indicate all the step you calculate).