Apple Inc. is evaluating Project Vanguard with the following cash flows:

Year	0	1	2	3	4
Cash Flow ($m)	-80	10	20	35	40

(i) (2 pt) Use the payback rule to determine whether the company should accept the project or not if its payback period cutoff is 4 years.

(ii) (2 pt) Use the IRR rule to determine whether the company should accept the project or not if its cost of capital is 10%.

(iii) (2 pt) Use the NPV rule to determine whether the company should accept the project or not if its cost of capital is 10%.