A manufacturing firm plans to install a new assembly line with a capital cost of Rs. 5,00,000. The assembly line will last for 6 years with a salvage value of Rs. 50,000. The line will generate Rs. 1,20,000 in annual net operating income after depreciation. The firm's tax rate is 35%. The present value factors for 6 years are provided:

Present Value Factors:

• 8%: 4.62
• 10%: 4.35
• 12%: 4.11
• 14%: 3.89
• 16%: 3.69

Requirements:

1. Calculate the annual net cash inflow after tax.
2. Compute the present value of the salvage value at each discount rate.
3. Determine the present value of the cash inflows at each discount rate.
4. Calculate the NPV at each discount rate.
5. Calculate the IRR of the project.