A company is evaluating the feasibility of a new project requiring an initial investment of $500 lakhs in equipment. The expected earnings (before depreciation and taxes) for the next five years are projected as follows: Rs. 200 lakhs, 220 lakhs, 250 lakhs, 280 lakhs, and 300 lakhs. The depreciation rate is 15% on a Written Down Value basis. The scrap value at the end of five years is estimated at 40%. The cost of raising capital is 10%, and the applicable income tax rate is 25%. Calculate the Net Present Value (NPV) and the Internal Rate of Return (IRR) for the project. Additionally, determine the payback period and the profitability index.