MNO Corp. is considering a new investment project with an initial cost of Rs. 850 lakhs. The expected revenues and operating expenses before depreciation and taxes over the next six years are:

Year	Revenues (Rs. in lakhs)	Operating Expenses (Rs. in lakhs)
1	350	120
2	370	130
3	390	140
4	410	150
5	430	160
6	450	170

Depreciation is 12.5% per annum on a Written Down Value basis. The company's cost of capital is 15%, and the tax rate is 27%. The project has no scrap value.

Requirements:

1. Calculate the annual depreciation using the Written Down Value method.
2. Determine the taxable income for each year.
3. Compute the after-tax earnings.
4. Determine the annual cash flows.
5. Calculate the NPV and IRR of the project.