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The Wayne Corp. is planning on investing in a new project. This will involve the purchase of some new machinery costing $450,000. The Wayne Company expects cash inflows from this project as detailed below:

Year 1 Year 2 Year 3 Year 4

$200,000 $225,000 $275,000 $200,000

The appropriate discount rate for this project is 15%. (1) What is the net present value (NPV) for this project? (2) What is the IRR for this project? (3) Using the NPV Rule, what is your decision on this project? (4) Using the IRR Rule, what is your decision on this project? (5) What is the payback period for this project? (6) If the financial manager determines that a 2.5-year payback period is appropriate, do you accept this project?