Your firm is considering an investment that will cost $1.5 million today. The project will produce cash flows of $350,000 in year 1, $390,000 in years 2 through 4, and $450,000 in year 5.

i. Develop the timeline(linear representation of the timing of cashflows).

ii. Calculate the Payback Period (PB).

iii. Calculate the Internal Rate of Return (IRR).