JKL Ltd. is considering a project that requires an initial investment of Rs. 7,00,000 and is expected to last for 6 years. The expected annual profits are provided below:

Year	1	2	3	4	5	6
Rs.	1,00,000	1,20,000	1,40,000	1,60,000	1,80,000	2,00,000

Depreciation is charged on the original cost. The tax rate is 32%.

Required:

1. Calculate the Payback Period (PBP).
2. Determine the Accounting Rate of Return (ARR).
3. Compute the Net Present Value (NPV) at a 10% discount rate.
4. Calculate the Internal Rate of Return (IRR).
5. Recommend whether to proceed with the project based on NPV and IRR.