A company that provides infrastructure services to the government requests your assistance in evaluating the project proposal outlined below. The anticipated cash outflow for the undertaking is Rs$.20,00,000.$ The project$$s duration is four years. The tax rate on corporations is $30\%.$ The estimated cash inflows for the project are as follows:

Year $1$

Cash inflows : $6,00,000$

Year $2$

Cash inflows : $5,00,000$

Year $3$

Cash inflows : $7,00,000$

Year $4$

Cash inflows : $7,00,000$

You are required to evaluate the proposal using:

Payback period

Profitability index @ $10\%$ discount rate.

Internal rate of return