A company is considering an investment proposal to install new milling controls at a co 10 of Rs50,000. The facility has a life expectancy of 5 years and no salvage value. The tax rate is 35% Assume the firm uses straight line depreciation and the same is allowed for tax purposes. The estimated cash flows before depreciation and tax (CFBDT) from the investment proposal are as follows: 4 5 Year 1 2 3 CFBDT 10,000 10,692 12,769 13,462 Compute the following: 20,385 a) Payback period, b) NPV at 10 % discount rate, c) Profitability Index (PI) Note: Present Value Table will not be given