Question 1. ( 20 points) A project requires an initial investment of $225,000 and is expected to generate the following net cash inflows: Year 1: $95,000 Year 2: \$80,000 Year 3:$60,000 Year 4: $55,000 a) (4 Points) What is the payback period of the project? b) (4 Points) Calculate the NPV (net present value) if the minimum desired rate of return is 12%. Should you accept the project? c) ( 4 Points) Calculate the NPV (net present value) if the minimum desired rate of return is 12% and inflation rate is 5%. Should you accept the project? d) (4 Points) Calculate the profitability index of the project for "part b)". Should you accept the project? e) (4 Points) Calculate the profitability index of the project for "part c)". Should you accept the project