When a bank prefer using NPV over IRR for capital project evaluation?

ABC company is considering a new product line to supplement its expanding market share. It is anticipated that the new product line will involve cash investment of Tk. 6,00,000 initially.

After tax cash inflows of the project are expected as per following table although the cash flows do not consider the depreciation. The company follows straight-line depreciation method.

Its estimated useful life is 5(five) years with salvage value of Tk. 1,00,000. Cost of capital is 10%.

Required : Calculate (i) Payback period (iii) Discounted payback period (iv) IRR (v) Profitability index.