Investment appraisal: You plan to use NPV and Payback techniques to evaluate the project. Critically discuss NPV and Payback techniques and the implications of the investment. The discount rate is 10% (ignore inflation and taxation). Please present NPV and Payback results using small tables. You need to make a decision on which investment appraisal format that you will choose. You have the flexibility to decide the project using your ESTIMATE. The investment should be between 10m to 20m, but how the money is invested would depend on the nature of the investment.

1. Provide samples to illustrate investment appraisal results using NPV and Payback techniques at your chosen format

2. Discuss potential implications of the investment