$($Appendix $13$A$)$ Ontario Road Builders Inc. $($ORBI$)$ is considering a project that would have an ten year life and would require a $\backslash (\backslash$$ $30,000,000\backslash )$ investment in equipment. At the end of ten years, the project would end and the equipment would have a salvage value of $\backslash (\backslash$$ $6,000,000\backslash ).$ The project would provide net income each year as follows:

All of the above items, except for depreciation of $\backslash (\backslash$$ $2,400,000\backslash )$ a year, represent cash flows. The depreciation is included in the fixed expenses. The company's required rate of return is $\backslash (12\backslash \%\backslash ).($Ignore income taxes in this problem.$)$

Required:

a$)$ What is the project's net present value?

b$)$ What is the project's internal rate of return?

c$)$ What is the project's payback period?

d$)$ What is the project's simple rate of return?