The data for this task is preloaded into you Excel workbook. Cantor-Hilbert LLP (CL) is a medium-sized audit, tax and consultancy firm. So far, the firm has operated primarily in the UK working with technology companies. It now sees an opportunity to start operations on the west coast of America, with a new US headquarters in San Francisco. It will go ahead with the project if the payback period is under six years. (a) Calculate the payback period for the project in years and months assuming no discounting. (4 marks) (b) Calculate the payback period for the project in years and months assuming a constant project risk-adjusted discount rate of 6% (4 marks) (c) Based on your calculations above and other considerations, should the project go ahead in your view? Give two points.

Year	Cash in ($m)	Cash out ($m)	Net	Cumulative
0	0	-2.00
1	0.5	-1.00
2	0.5	-0.90
3	0.7	-0.50
4	1	-0.10
5	2	-0.10
6	2	-0.10
7	2	-0.10
8	2	-0.10
9	2	-0.10
10	2	-0.10