A project is offered which requires an outlay of £6000. Returns at the end of years 1 to 5 inclusive are respectively expected to be £1000, £2000, £2000, £2000 and £500. Compute the net present value...

A project is offered which requires an outlay of £6000.  Returns at the end of years 1 to 5 inclusive are respectively expected to be £1000, £2000, £2000, £2000 and £500.  Compute the net present value of this project if interest is estimated to be (i) 8% per annum compounded annually and (ii) 9% per annum compounded annually