help$($a$)$ Cempaka Sdn$.$ Bhd$.$ is considering a project which requires RM$400,000$ for the start$-$up$.$ The cash flows expected from the project are as follows:

The cost of capital for this project is $8\%.$

i$.$ Calculate the payback period for this project.

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

$($b$)$ Explain the advantages and disadvantages of using the net present value technique in evaluating a project.