The incomes and expenditures (see below) are projected for a toll road project over a period of 9 years. You are required to perform financial analysis of the project using the following approaches: Net Present Value (NPV), (b) Benefit Cost Ratio (BCR), and (c) Internal Rate of Return (IRR). Assume a discount rate of 10 percent for calculating the NPV and BCR. Your analysis must include recommendations regarding the investment decision.

Year 0 1 2 3 4 5 6 7 8 9 Total Expenditure (Cost), USD 132085 6604 6604 6604 6604 6604 6604 6604 6604 6604 191523 Income (Benefit), USD 0 19813 20803 21844 22936 24083 25287 26551 27879 29272 218467