Based on its Net Present Value determine whether the investment should be favourably considered for acceptance or on the onformation given below:

A company plans an investment in non$-$current assets costing R $3000000.$ Non$-$current assets are expected to have a four year life and the following net profits are anticipated:

YEAR $1$ R $350000$

YEAR $2$ R $750000$

YEAR $3$ R $200000$

YEAR $4$ R$170000$

Working capital amounting to R $200000$ will be required at the start of the project. All working capital will be recovered at the end of year $4.$ The expected scrap value of the non$-$current assets is R $400000.$ The cost of capital is at $12\%,$ ignore taxes.