J.S. Cereals is considering replacing its cereal packing equipment. The new equipment costs US$ 120,000. The new equipment is more efficient and would generate incremental cash flow of US$ 20,000 per year for the next five years. If the cost of capital is 15%, what is the payback period, NPV, and profitability index of the project? Based on the results of the three methods recommend whether to accept or rejects the project, and which method is the best and why?