Rigger international is attempting to evaluate the feasibility of investing 84,000 in a piece of equipment that has a 5 year life. The firm has estimated the cash inflows associated with the proposal as shown in the following table . The firm has a 9% cost of capital

1 calculate the payback period for the proposed investment

2 calculate the NPV for the proposed investment

3 calculate the IRR rounded to nearest whole percent for proposed investment

4 evaluate the acceptability of the proposed investment using NPV and IRR. What recommendations would you make relative to implementation of the project