Consider a proposed project that is expected to have a NINV of $100 million at time 0 and the NCF as follows.

NCF Year 1: $40 million

Year 2: $40 million

Year 3: $60 million

Year 4: $40 million

a Find the NPV assuming that the annual cost of capital is 20%.

b. Find your IRR.

C. Find your PI.

d. Find your payback period using NCF without discount

e. Find your payback period using discounted NCF

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