A project requires an initial outlay of £20,000 and generates cash flows of £5000 at each of t = 1, 2, 3, 4, and 5 years. If the outlay is funded by a loan at rate 7% per annum and the inflows are invested in a deposit account earning 7% per annum, calculate the following.

a. The net present value of the entire project.

b. The accumulated value of the entire project at t = 5.