Texts: The investment period of an investment project is two years. The investment outlays in the first year are 1,100,000 TL, and in the second year, they are 1,600,000 TL. The operating period starts in the third year. The net cash flows in the third year are 750,000 TL, in the fourth year 820,000 TL, in the fifth year 940,000 TL, in the sixth year 1,120,000 TL, in the seventh year 1,250,000 TL, in the eighth year 980,000 TL, and in the ninth year 1,200,000 TL. The residual receivables are 200,000 TL. The residual receivables are expected to be collected at the end of the fourth month of the tenth year. The cost of capital is 12%. (20 Points)
a. Calculate the payback period.
b. Calculate the discounted payback period.
c. Show how the net present value is calculated.