Part 2 (22 points): The Hua Bei Autonomous Electric Car Manufacturing Company is considering an expansion. The sports car division has a new 2 door version they think will increase after tax cash flow by (CNY) 610,000 a year for a ten year period. The companys weighted average cost of capital (WACC) is 4.5%. The company is borrowing from a US bank and the project has an initial cost of $653,500 (USD). Exchange rate is: 1 CNY = 0.14457 USD.

What is the Payback, Net Present Value and Internal Rate of Return for this project? Report in CNY.