Please solve it correctly with steps.

An electric bulb manufacturer has under consideration the proposal of production of high quality bulb. The necessary equipment to manufacturer the bulb would cost of Rs. 1 lakh and would last 5 years. The relevant rate of depreciation is 20% p.a. on written down value. There is no other asset in this block. The bulb can be sold at Rs. 4 each. The company will incur cash cost of Rs. 25000 in each year if project is undertaken. The variable costs are estimated at Rs. 2 per bulb. The manufacturer estimates that it will sell about 75000 bulbs per year. Tax rate is 35%. Additional working capital of Rs. 50,000 will be required. Assume cost of capital to be 20%. Should the company accept this project if machine will have salvage value of Rs. 10,000 at the end of its life? Present value of Rupee 1 at 20%. Year PV factor 1 0.833 2 0.694 3 0.579 4 0.482 5 0.402