You will be analyzing a capital investment project for a rural community hospital. This project involves expanding and upgrading the hospital's facilities to improve patient care, accommodate more patients, and increase efficiency across the organization. The hospital is in a rural area with a growing population and an increasing demand for healthcare services. The management, led by the Chief Financial Officer, Clark Kent, is considering investing in a new wing with state-of-the-art medical equipment, additional patient rooms, and specialized units such as a dialysis center. The initial investment required for the project is $2,870,000. The expected net cash inflows from this project are as follows: Year 1=$1,030,000 Year 2=$1,240,000 Year 3=$1,350,000 Year 4=$1,450,000 Year 5=$3,050,000 Management has set the cost of capital at 20% for this project. However, there are several complicating factors to consider: - The project may require additional staffing, including specialized medical professionals who may be difficult to attract to the rural area. - The hospital has limited funding options and may need to take on debt to finance the project, which could impact its long-term financial stability. - Regulatory uncertainties surrounding healthcare policies, reimbursement rates, and potential changes in the rural hospital funding landscape. Your task is to analyze the investment project using various financial metrics, such as payback period, net present value (NPV), internal rate of return (IRR), modified internal rate of return (MIRR), and profitability index (PI), with a focus on the management's set cost of capital at 20%. In addition, you need to evaluate the qualitative factors and risks associated with the project. Based on your analysis, recommend whether the hospital should proceed with the investment project and allocate the necessary resources for the expansion. Remember that there may not be a clear-cut answer, and your recommendation should be backed up by solid reasoning and critical thinking