Tech Corp is considering investing in a new AI development project. The project requires an initial investment of $500,000. The project is expected to last 4 years, generating the following cash flows:

Year	Cash Flow
1	$150,000
2	$200,000
3	$250,000
4	$300,000

The company’s required rate of return is 10%.

Requirements:

1. Calculate the Net Present Value (NPV) of the project.
2. Determine the Internal Rate of Return (IRR) for the project.
3. Calculate the payback period.
4. Should Tech Corp proceed with the project based on NPV and IRR?
5. Explain the impact of a 2% increase in the discount rate on NPV.