(10) (a) A project of Rs. 40,00,000 yielded annually a profit of Rs. 6,00,000 after depreciation) 124% and is subject to income tax @ 50%, you are required to calculate pay-back period. (b) No-Project is acceptable unless the yield is 10% cash inflows of a certain project along with cash outflows are given below: Year Outflows Inflows Rs. Rs. 0 3,00,000 1 60,000 40,000 2 60,000 3 1,20,000 4 1,60,000 5 60,000 80.000 (being salvage value at the end of 5 years) You are required to calculate Net-Present value