AK Ltd is a building construction company intending to undertake a new project, required 287,000 of initial investment. The cost of capital for this project is estimated at 16% per annum. A consultant of ABC Ltd has come up with the following cashflow projections: Cash Flows/Years 2021 2022 2023 2024 2025 2026 Cash Inflows () 32,560 56,860 98,000 197,640 253,000 278,000 Cash Outflows () 46,580 57,450 48,000 72,650 96,000 99,000 a) Appraise the proposed project using the net present value technique