Can you solve the question step by step?

4. Boyd Ltd Boyd Ltd, a manufacturer of baths and bathroom fittings, is considering moving into the production of super-soft shower heads, aimed at households with young children or the elderly. Management consultants have undertaken a feasibility study at a cost of 9,000 and they have forecast the following cash-flows for the project: '000 Year 0 New machinery (258) Year 1 Cash inflow, before depreciation 55 Year 2 Cash inflow, before depreciation 85 Year 3 Cash inflow, before depreciation 115 Year 4 Cash inflow, before depreciation 80 Year 5 Cash inflow, before depreciation 40 Year 5 Proceeds from disposal of 28 machinery Assume all cash flows arise at the end of the year to which they relate. The machinery would be sold at the end of 5 years. It is to be depreciated on the straight- line basis over its useful life. REQUIRED: a) Calculate the payback period for the shower heads project. b) Calculate the accounting rate of return for the project. c) Calculate the NPV for the project, using a discount rate of 15% (the rate Boyd Ltd usually requires from new projects). d) Explain why the NPV technique is the most meaningful investment appraisal technique. e) Advise Boyd Ltd as to whether it should consider proceeding with the production of these shower heads