A company is considering a new project that requires an investment of Rs. 450 lakhs in equipment and will last for six years. The expected earnings before depreciation and taxes are:

Year	Earnings (Rs. in lakhs)
1	160
2	180
3	190
4	200
5	210
6	220

Depreciation will be charged at 10% per year on a straight-line basis. The company's cost of capital is 9%, and the tax rate is 20%. The equipment will have no residual value.

Requirements:

1. Calculate the annual depreciation.
2. Compute the after-tax earnings for each year.
3. Determine the annual cash flows.
4. Calculate the project's NPV.
5. Determine the IRR of the project.