Project Merlin is a 10-year project with an initial cost of $1,550,000. The project will generate the following cash flows at the end of each year: Years Cash flows ($) 1 2 3 4 5 6 7 8 9 10 135,000 320,000 320,000 320,000 320,000 320,000 320,000 320,000 320,000 150,000 Company Alpha is interested in investing in Project Merlin. The company has a cost of capital of 8% p.a. effective. a. (1 mark) Calculate the net present value (NPV) for Project Merlin. Round your answer to the nearest cent. Do not put $. Do not use comma separators. E.g. 1234.56 $ b. (1 mark) Calculate the payback period (in years) for Project Merlin. Round your answer to 2 decimal places. Do not include the word "years". Do not use comma separators. E.g. 1234.56