Year	Cash Flow to Equity ($)
0	-4,000,000
1	1,500,000
2	1,500,000
3	1,500,000
4	1,500,000

Requirements:

1. Determine the IRR.
2. Calculate the NPV with a 10% discount rate.
3. Should the project be accepted if the cost of equity is 10%?
4. Compute the payback period.