Sundsta$$ir ehf., which is a medium$-$sized manufacturing company, is considering starting a new business that takes advantage of a new business opportunity. To use it$,$ you have to invest in equipment that costs $1,500$ million. ISK but in addition, this equipment needs to be installed, which is estimated to cost $500$ million. kr$.$ Estimates assume that the lifetime of the investment is $12$ years. After that time, it is assumed that the devices can be sold for $400$ million. ISK Sales losses can be offset against the profit for the year. The obsolete stock can be depreciated linearly over $10$ years, but not more than about $90\%$ of the obsolete stock. The investment also requires an increase in current assets in the amount of $510$ million. ISK which are released again when this activity is stopped. It is estimated that the sales revenue of this new business opportunity will be $3,000$ million. ISK in a year. Variable costs are estimated to be $67\%$ of sales revenue, but in addition there are $100$ million. ISK fixed cost per year. The company's rate of return for this project is $15\%$ and the tax rate is $22\%.$

a$)$ What is the net cash flow $($NCF$)$ at the beginning $($ie when t $=0)?$

b$)$ What is the operating cash flow $($OCF$)$ in the third year of the project, $($ie when t $=3)?$

c$)$ What is the net cash flow $($NCF$)$ in the last year of the project, $($ie when t $=12)?$

d$)$ What is the internal rate of return $($IRR$)$ of this project and subsequently the answer if it is worth investing in this project?