QUESTION 1 A computer manufacturer is to develop a new laptop model to be produced from 1 January 2023 for 23 years until 31 December 2045. The total development cost will be 80.6 million, of which $50.0 million will be incurred on 1 January 2021. $15.6 million on 1 January 2022 and $15.0 million on 1 August 2022. The production cost of each laptop is assumed to be incurred at the beginning of the calendar year of production and will be $500 during 2023. The sale price of each laptop is assumed to be received at the end of the calendar year of production and will be $2500 during 2023. Both the production costs and the sale prices are assumed to increase by 1.6% on each 1 January, the first increase occurring on 1 January 2024. It is also assumed that 10000 laptops will be produced each year and all will be sold. Which of the following is the discounted payback period of the project at an effective rate of interest of 7.89 per annum? O 8.0 years O 9.0 years 0 10.0 years 11.0 years 0 12.0 years 13.0 years 0 14,0 years 16.0 years 17.0 years