Intel Corporation is considering a project with an initial investment of $600,000. The asset will be depreciated over five years at 20% per year. The following are the expected cash flows:

Year	Inflow ($)	Outflow ($)
Year 1	190,000	70,000
Year 2	200,000	75,000
Year 3	210,000	80,000
Year 4	220,000	85,000
Year 5	230,000	90,000

a. Calculate the internal rate of return (IRR).
 b. What is the payback period?
 c. Assuming a cost of capital of 10%, what is the net present value (NPV) of the cash flows?
 d. Should Intel Corporation proceed with the project?