Using NPV when project is delayed

Hi, I’m a bit confused.

In Washi question, the project start is actually 1 year on. ie year 0 is year 1 and so on

Therefore if using NPV function I would have thought that you could do NPV at 12% of all the cash flows (T0-T4), rather than NPV T1-T4 and adding T0 on at the end?

In BPP solution although they have converted FX for T0 at the PPP expected in T1, they haven’t discounted T0. Seems like its one rule for FX, but another for discounting?

Thanks