A company is planning to undertake a new project requiring an investment of ₹500 lakhs in machinery and other assets. The project is expected to yield the following earnings (before depreciation and taxes) over the next five years.

Year	Earnings (₹ in lakhs)
1	200
2	220
3	240
4	260
5	250

The cost of capital is 14%, and the assets depreciate at 25% on a Written Down Value basis. The scrap value at the end of the five years is ₹60 lakhs. There is no applicable income tax.

Required:

1. Calculate the Net Present Value (NPV) of the project.
2. Calculate the Internal Rate of Return (IRR) of the project.
3. Determine the Payback Period.
4. Analyze the project's profitability index.