A company is considering a project that requires an initial investment of Rs.34M to build a new plant and purchase equipment. The investment will be depreciated at WDV rate of 15% for 7-years. The new plant will be built on some of the company's land which has a current, after-tax market value of Rs.4.3M. The company will produce units at a cost of Rs.130 each and will sell them for Rs.420 each. There are annual fixed costs of Rs.0.5M. Unit sales are expected to be 150,000 each year for the next 6 years, at which time the project will be abandoned. At that time, the plant and equipment is expected to be worth Rs. 8M (before tax) and the land is expected to be worth Rs. 5.4M (after tax). To supplement the production process, the company will need to purchase Rs.1M worth of inventory. That inventory will be depleted during the final year of the project. The company has Rs.100M of debt outstanding with a yield-to-maturity of 8%, and has Rs.150M of equity outstanding with a beta of 0.9. The expected market return is 13% and the risk-free rate is 5%. The company's marginal tax rate is 40%. Should the project be accepted? Estimate the relevant cashflows from the project and evaluate based on NPV, IRR , Payback and Profitability index.