Optional bonus points question up to 5 points possible] The UTC Corporation wishes to set up a subsidiary in Mumbai, India. The project will cost INR 70,000,000 or USD 930,000 at the current spot rate of INR 75.2688/USD. UTC plans to borrow 40% of its capital requirements in Indian rupees at a cost of 12% per annum. UTC's equity is believed to cost 16%, and its tax rate is 23%. The project is expected to generate net cash flows of INR 15 million each year from year 1 to year 5, at which point the project will be dissolved. The Indian rupee is expected to appreciate 5% every year for the indefinite future. Calculate the NPV and IRR of this project from UTC's perspective. Should the project be accepted? Show all relevant calculations as best you can. Optional bonus points question up to 5 points possible] The UTC Corporation wishes to set up a subsidiary in Mumbai, India. The project will cost INR 70,000,000 or USD 930,000 at the current spot rate of INR 75.2688/USD. UTC plans to borrow 40% of its capital requirements in Indian rupees at a cost of 12% per annum. UTC's equity is believed to cost 16%, and its tax rate is 23%. The project is expected to generate net cash flows of INR 15 million each year from year 1 to year 5, at which point the project will be dissolved. The Indian rupee is expected to appreciate 5% every year for the indefinite future. Calculate the NPV and IRR of this project from UTC's perspective. Should the project be accepted? Show all relevant calculations as best you can