A corporation is evaluating a new investment that involves a capital outlay of $900,000. The investment is expected to last for 7 years and has no salvage value. It will generate annual net operating income after depreciation of $130,000. The corporation's tax rate is 30%. The present value factors for 7 years are given below:

Discount Rate	Cumulative Factors
10%	4.868
12%	4.564
14%	4.288
16%	4.036
18%	3.802

Requirements:

1. Calculate the NPV of the investment at each discount rate.
2. Identify the IRR of the investment.
3. Analyze the sensitivity of the NPV to changes in the discount rate.
4. Discuss the implications of the IRR on the investment decision.