The Juniper Network Company is considering a new 5 -year expansion project that requires an initial fised investment of 52.5 million. The fixed asset will be depreciated straight line to zero over its five year tax life, after which time it wii be worthless. The applicable tax rate is 22%. Estimated annual sales for the project are $2.2 million with annual costs of $1.15mm. The project will also recuire an initial investment in NWC of $140.000. Which of the following approaches can be used to analyze the project? 1. NPV 2. IRR 3. Payback period 4. Immunization 5. Arbitroge Portfolio theory is correct