1. Jolyene company wants to invest in a cement industry. The following information are obtained for the evaluation: Cash flows for the first five years are: Year 0 GHC 1,000,000, 1 2 3 100,000 150,000 80,000 4 5 120,000 500,000 And after the 5th year, the cash-inflows will be 100,000 per year for the next 15years. If 9% is the discount rate for the first 5years and 10% thereafter, what is the present value of the project