OPQ Technologies is planning to invest in a project that requires an initial investment of $1,200,000. The expected cash inflows are as follows:

Year	Cash Flows
0	-$1,200,000
1	$300,000
2	$350,000
3	$400,000
4	$450,000

a. Calculate the payback period for the project. b. If the company's cost of capital is 9%, calculate the NPV and determine if the project should be accepted.