Your grandma has set up a fund of $1,000,000 for you. You have to invest this money in a fixed asset project. As a result of your feasibility study, you predict the following cash flow for the next 5 years: Years Cash flows DF (10%) 1 0.909 280,000 2 250,000 0.826 3 300,000 0.751 4 300,000 0.683 300,000 5 0.621 Scrap value of the project is expected to be $400,000 assuming WACC is 10%; a) Calculate the project's IRR and discounted payback period. b) Briefly state the selected location, which sector you chose, and why