May&Co is considering the purchase of a new plywood machine . The machine will cost $ 1.4 million . It will generate a net after - tax cash flow of 350.000 $ per year for six years . May&Co cost of capital is 14 % . ( Show your work ) a . What is the NPV of this project ? b . What is the IRR of this project ? c. Is this project acceptable if May&Co uses the payback method with a 4 - year payback requirement ? d . If May&Co uses discounted payback with a 5 - years requirement , is this project acceptable ? e . Based on your answers above , is this a good project ?