Use the following project cash flows to answer the questions below.

Year	Cash Flows
0	-$675,000
1	$115,000
2	$220,000
3	$345,000
4	$410,000

Assuming the required return is 9 percent, what is the NPV of this project?

1. $189,250.61
2. $172,531.82
3. $154,862.28
4. $82,971.54
5. -$31,463.35

What is the IRR of this project?

1. 8.93 percent
2. 10.25 percent
3. 13.76 percent
4. 15.08 percent
5. 18.12 percent

Assuming the required return is 9 percent, what is the profitability index of this project?

1. 1.38
2. 1.29
3. 1.26
4. 1.06
5. 0.99

What is the payback period of this project?

1. 3.18 years
2. 2.99 years
3. 2.74 years
4. 2.55 years
5. 2.30 years

Assuming the required return is 9 percent, what is the discounted payback period of this project?

1. 1.91 years
2. 2.56 years
3. 3.16 years
4. 3.41 years
5. 3.63 years