4 REQUIRED Study the information provided below and answer the following questions: 4.1 Calculate the Payback Period for both projects. (Answers must be expressed in years, months and days.) 4.2 Calculate the Accounting Rate of Return on initial investment for Project B. 4.3 Calculate the Net Present Value of each project. (Round off amounts to the nearest Rand.) 4.4 Calculate the Internal Rate of Return for Project B. (20) (6) (4) (6) (4) INFORMATION The following information relates to two capital investment projects currently being considered by Enviro Limited, recycling company. Initial cost Expected useful life Scrap value Project A R720 000 5 years R50 000 Project B R 600 000 Depreciation R134 000 p.a. 4 years Nil R150 000 p.a. Expected net cash inflows R 1st year 160 000 R 165 000 2nd year 175 000 165 000 3rd year 210000 165 000 4th year 215 000 165 000 5th year 180 000 165 000 The company's cost of capital is 12%