Jasper Metals is considering installing a new molding machine which is expected to reduce operating costs by $64,000 per year for 8 years. At the beginning of the project, net working capital is expected to decrease by $16,300. At the end of the project, net working capital will return to the level it was prior to undertaking the new project. The initial cost of the molding machine is $276,000. The equipment will be depreciated on a straight-line basis over 10 years. The equipment will be sold at the end of the project for $66,000. The tax rate is 21 percent and the required return is 10 percent. Calculate the NPV, IRR, Payback and Discounted Payback. Provide an accept or reject recommendation.