You are a financial analyst working for XYZ Corporation. You have been asked to evaluate the feasibility of investing in a new project that is expected to generate cash flows over a period of 5 years. The initial investment required is $500,000, and the cash flows for each year are given below:

Year 1: $150,000
Year 2: $180,000
Year 3: $200,000
Year 4: $220,000
Year 5: $250,000

The cost of capital for the project is 10%. Determine whether the project is a good investment opportunity for XYZ Corporation.