Q$3.$ norman inc. is considering the following project with expected future after$-$ tax cash flows shown in the following table. You dont know the projects initial cost but you do know the projects conventional payback period is $2\mathrm{.}5$ years. Assume cost of capital is $12\%.$

Year$112,000$

Year $210,000$

Year $36000$

Year $45000$

a$).$ Calculate NPV of the project

b$).$ Would you recommend the company to accept or reject the project on the basis of NPV$?$

c$).$ How high can the discount rate be before you reject the project based on NPV$?$ Give your answe correct to $2$ decimal places.