Avera Sdn. Bhd. is considering a project which requires an initial outlay of RM400,000. The cash flows expected from the project are as follows:

Year	Cash Flow (RM)
1	200,000
2	220,000
3	210,000

The cost of capital for this project is 10%.

i. Calculate the payback period for this project.

ii. Calculate the net present value and determine whether the project should be accepted or rejected.

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