Problem 1 (3 points) A project costs $100,000 and the expected annual cash flows are given in the table. Year Cash Flows 1 $31,000 2 $35,500 3 $40,500 $42,000 The firm's discount rate is 14%. a. What is the NPV of the project? Round your answer to the nearest cent. b. What is the discounted payback period of the project? Round your answer to two decimal places. c. What is the IRR of the project? Round your answer to two decimal places. 4