XYZ Ltd is planning to invest in a new project that requires an initial investment of $600,000 and is expected to generate the following cash flows:

Year	Cash Flow
1	$150,000
2	$160,000
3	$170,000
4	$180,000
5	$190,000
6	$200,000

Requirements:

1. Calculate the payback period.
2. Calculate the NPV if the cost of capital is 8%.
3. Calculate the IRR for the project.
4. Calculate the profitability index (PI).
5. Evaluate whether XYZ Ltd should proceed with the project.