Appraise investment project presented in the table using the followin methods and comment on the merits of each method. Simple Payback Net present value using a discounted factor of 5% Internal rate of return Initial Investment Income after Year 1 Income after Year 2 Income after Year 3 Income after Year 4 Income after Year 5 Income after Year 6 Income after Year 7 Income after Year 8 End of Life scrap value @ year 8 400,000 90,000 90,000 70,000 70,000 50,000 50,000 30,000 30,000 15,000