A company is considering to buy a major project worth $$22$ million. It is a five year project. The sales and cost data are provided here:

Year $1$ Sales $($Units$)$

$180,000$

$290,000$

$3100,000$

$4110,000$

$590,000$

Price per unit $=$ $$400$

Variable cost per unit $=$ $$200$

Fixed costs per year $=$ $$800,000$

Depreciation$/$CCA per year $=$ $$40,000$

Tax rate $=30\%$

Discount rate $=10\%$ Show detailed calculations with answers for Profitability index and Payback period