Question 3 You are considering an investment in a project with a life of cight years, an initial outlay of $140,000, and annual after-tax cash flows of S57,000. The project also requires an increase in inventories of S22,000. This S22,000 investment in inventory is required at the outset of the project and will be relcascd when the project is completed. The appropriate discount rate for this project is 10 percent. a. Calculate the payback period for this project. b. Calculate the discounted payback period for this project. c. The firm has a required payback period of three years for both pay back and discounted pay back. What do your calculations in a and b. suggest regarding the project's acceptability? Fully explain your answer. d. Calculate the NPV for this project. e. Should the project be accepted? Fully explain your