XYZ Corporation is considering purchasing a new machine that costs $50,000. The machine is expected to generate the following cash flows:

• Year 1: $10,000
• Year 2: $15,000
• Year 3: $20,000
• Year 4: $25,000
• Year 5: $30,000

Requirements:

1. Calculate the NPV of the machine if the discount rate is 12%.
2. Calculate the IRR of the machine.
3. Should the company purchase the machine based on NPV and IRR?
4. Calculate the payback period for the machine.