Please help with the following question( there are NO missing information or graphs):

You invest in a project over the next 5 years. It requires an investment of R1.5 million upfront, plus additional equipment(upgrade) of R500000 at the end of year two (this is quoted for already along with the initial price and is fixed at that amount). The initial equipment has a depreciation schedule of 40% in the first year, and 20% in each of the next three years. The R500000 upgrade can be depreciated in a straight line over three years (years 3 to 5). At the end of the project, you think that the equipment will be worth R1 million in today's value (i.e. constant dollars).

The running costs are R600000 in year 1 - these costs increase at an inflation rate of 8% per year. Additional income will start at R800000 in year 1, and R900000, R1.3 million, R1.5 million and R2 million in years 2 to 5 respectively (all in today's value).

Given a MARR of 15%, a tax rate of 28%, and an average inflation rate of 5% per annum over the next 5 years.

(Note: any tax losses for a specific year can be treated as a tax saving for this question)

What is the NPV (net present value) of the project if you look at PROFIT only?

What is the NPV (net present value) of the project if you look at cash flow after tax?