The estimated project cost, sales, rent, selling price and production and selling costs of the product of a new project are given below. Compute the NPV and payback period of the project. Assume the costs are incurred at the beginning of the year, zero depreciation, no taxes, and discount rate as 10%, Show all calculations.

	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6
Project cost (Rs. Million)	40	70
Rent for land, buildings and machinery (Rs. Million)	3	40	5	5	6	6
Sales (Million Units)		2	2	3	3	4
Selling Price (Rs./Unit)		35	35	40	40	45
Production and Selling Costs (Rs. Million)		18	20	22	22	30