JKL Inc. has the following investment opportunity. The project requires an initial investment of $600,000 and is expected to generate the following cash flows:

• Year 1: $150,000
• Year 2: $170,000
• Year 3: $200,000
• Year 4: $220,000
• Year 5: $250,000

The company's cost of capital is 10%.

Requirements:

1. Calculate the payback period.
2. Determine the NPV of the project.
3. Compute the IRR of the project.
4. Evaluate whether the project is acceptable based on NPV and IRR.

Discuss the impact of delayed cash flows on the project’s viability.