15.16 A company estimates the following net cash inflows and outflows for a capital investment project that is currently under consideration:

Time £000 0 (1,650,000)

1 480,000 2 450,000 3 390,000 4 360,000 5 450,000 The company’s cost of capital is 8%.

i) Calculate the NPV of the project.

ii) Calculate the IRR of the project.