MNO Corporation plans to invest Rs. 6,00,000 in a project with a 5-year life. The project’s annual profits after depreciation but before tax are:

Year	Profit (Rs.)
1	1,10,000
2	1,25,000
3	1,35,000
4	1,45,000
5	1,50,000

The project is depreciated using the straight-line method. The tax rate is 33%.

Required:

1. Determine the Payback Period.
2. Calculate the Average Rate of Return (ARR).
3. Compute the Net Present Value (NPV) with a 12% cost of capital.
4. Calculate the Internal Rate of Return (IRR).
5. Provide a recommendation based on the project's financial analysis.