XYZ Ltd. is considering investing ₹1,000,000 in a new project. The following cash inflows are expected over the project's life of 7 years:

• Year 1: ₹150,000
• Year 2: ₹180,000
• Year 3: ₹200,000
• Year 4: ₹220,000
• Year 5: ₹240,000
• Year 6: ₹260,000
• Year 7: ₹280,000

The project will use straight-line depreciation with no salvage value. The tax rate is 30%, and the required rate of return is 12%.

Requirements:

1. Calculate the annual depreciation expense.
2. Determine the Net Present Value (NPV).
3. Find the Internal Rate of Return (IRR).
4. Calculate the accounting rate of return (ARR).

Decide on the project's acceptance based on NPV and IRR.