A co. requires an initial investment of Rs.40,000. the estimated net cash flow are as follows:

Net cash flow

Year1- 7,000

year 2- 7,000

year 3- 7,000

year 4- 7,000

year 5- 7,000

year 6 - 8,000

year 7 - 10,000

year 8- 15,000

year 9 -10,000

year 10-4,000

Using 10% as the cost of capital (rate of discount), determine the following:

(i) Pay back period,

(ii) NPV

(iii) IRR