Ms. Smith, the capital budgeting director of Fiorentina Corporation, is evaluating a five-year project, which will require an initial investment of $98,000 today. The expected end-of-year cash flows of the project are as follows:

Year 1: $40,000

Year 2: $29,000

Year 3: $35,000

Year 4: $13,000

Year 5: $13,000

The weighted average cost of capital of this project is 11.50%, and both target payback and discounted payback is four years.

a. What is the IRR of this project?

b. What is the NPV of this project?

c. What is the payback of this project?

d. What is discounted payback of this project?

Make a short comment on your results.