ABO Enterprise is reviewing an investment proposal. The initial cost and estimates of the book value of the investment at the end of each year, the net cash flows for each year, and the net income for each year are presented in the schedule below. All cash flows are assumed to take place at the end of the year. The residual value of the investment at the end of each year is equal to its book value. There would be no residual value at the end of the investment's life.

Investment proposal

Year	Initial Cost and Book Value (Taka)	Annual Cash Flows (Taka)	Annual Net Income (Taka)
0	1,05,000	-	-
1	70,000	45,000	16,000
2	42,000	40,000	18,000
3	21,000	35,000	20,000
4	7,000	30,000	22,000
5	0	25,000	24,000

ABO Enterprise uses a 15% target rate of return for new investment proposals. Discount factors are as follows :

Year	Discount Factor, 15%
1	0.86957
2	0.75614
3	0.65752
4	0.57175
5	0.49718

You are required calculate :
(i) Cash payback period for this proposal.
(ii) The Annual Rate of Return (ARR) for the investment.
(iii) The Net Present Value (NPV) of the investment.