The following expenses and revenues have been estimated for a new project: Revenues from sales = $4.1 106/yr Cost of manufacturing (excluding depreciation) = $1.9 106/yr Taxation rate = 40% Fixed Capital Investment = $7.7 106 (two payments of $5 106 and $2.7 106 at the end of years 1 and 2, respectively) Start-up at the end of year 2 Working capital = $2 106 at the end of year 2 Land cost = $0.8 106 at the beginning of the project (time = 0) Project life (for economic evaluation) = 10 yr after start-up Depreciation: MACRS method for 5 years (a) Calculate non-discounted profitability criterion (PBP, Cumulative cash position, ROROI), Draw a cumulative cash flow diagram. (b) Calculate discounted profitability criterion (DPBP, NPV, DCFROR) given in this section for this plant, For this project, assuming an after-tax internal hurdle rate of 11% p.a. Draw cumulative Cash flow diagram