A project has an initial investment of Rs$.23,25,000$ and projected cash inflows of Rs$.6,50,000$ for $5$ years. Assume the discount rate to be $11$ percent for Year $1$ and thereafter increases by $1\%$ each year.

$($i$)$ Work out the NPV$.$

$($ii$)$ Work out the Discounted and Undiscounted Pay Back Period.

$($iii$)$ Work out the BCR$.$

$($iv$)$ Should the project be approved? Why?

Do all the calculations manually