Compute net present value $($NPV$),$ return on investment, and payback analysis.

Assume that the projected costs and benefits for this project are spread over four years as follows:

$$ Estimated costs are $$300,000$ in Year $1$ and $$40,000$ in Years $2,3,$ and $4.$

$$ Estimated benefits are $$0$ in Year $1$ and $$120,000$ in Years $2,3,$ and $4.$

$$ Use a $7\%$ discount rate and round the discount factors to two decimals.

Calculate the NPV$,$ ROI, and clearly indicate the year in which the payback occurs.