San Clemente Clinic is evaluating a project that costs $75,000 and has expected net cash inflows of $20,000 per year for eight years. The first inflow occurs one year after the cost outflow, and the project has a cost of capital of 8 percent. There is a $3,000 salvage value on the project at the end of its expected life.

a. What is the project's payback?

b. What is the project's NPV?

c. What is the project's IRR?

d. Is the project financially acceptable? Explain your answer.

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