a) You are planning to start a project. If the required initial outlay of the project is ₹ 70,000 and estimated annual cash inflows are ₹ 30,000, ₹ 20,000, ₹ 18,000, ₹ 18,000, and ₹ 15,000 for the next 5 years respectively. Estimate the payback period of the project.

b) You have received a project proposal with a life expectancy of 5 years:

Particulars	Years	Amount in ₹
Initial Investment	0	6,00,000
Cash inflows	1	1,20,000
	2	1,20,000
	3	1,80,000
	4	1,80,000
	5	2,20,000

Calculate Net Present Value of project using the discount rate of 9%.