Company: Eta Construction Ltd.

Scenario: Eta Construction Ltd. is evaluating an investment in new heavy machinery costing Rs.500,000. The machinery has a life expectancy of 8 years with no salvage value. The tax rate is 29%. The company uses straight-line depreciation. The estimated cash flows before depreciation and tax (CFBT) from the machinery are as follows:

Year	CFBT (Rs)
1	90,000
2	95,000
3	100,000
4	105,000
5	110,000
6	115,000
7	120,000
8	125,000

Compute the following:

1. Payback period
2. Internal Rate of Return (IRR)
3. NPV at 13% discount rate

Modified Internal Rate of Return (MIRR) at 13% discount rate