The NPV of an investment, requiring an initial outlay of $10,000 at a discount rate of 6% which provides end-of-year cash flows of; year 1 - $3,000 (inflow), year 2 - $11,000 (inflow), year 3 - $1,500 (outflow) and year 4 - $7,000 (inflow), will be approximately how much? What is the payback period? Which of the two is more useful to a risk averse investor and why? Show all workings.