My courses / BA ATP 20-21 / Assessment Submission of A project requires an initial investment of 420,000. The following cash-flows have been estimated for the length of the project Year Cash-flow 1 120,000 150,000 3 180,000 160,000 a) Calculate the NPV of the investment using a discount rate of 9% (3 marks) 4 b) Calculate the Payback period of the investment. (3 marks) c) Comment on the results of your calculations for a and b (3 marks) III III B I @