Nordic Limited assumes a $365-$day year in its calculations.

In keeping with the company$$s growth initiatives, the directors have identified two possible investment opportunities for

$2025$ viz. Project A and Project B$.$ An investment of R$4000000$ is required for each project and a scrap value of

R$400000($not included in the figures below$)$ is anticipated for Project A only. The useful life of each project is estimated

to be five years. Project A is expected to generate net cash flows of R$1420000($Year $1),$ R$1370000($Year $2),$

R$1380000($Year $3),$ R$1170000($Year $4)$ and R$1120000($Year $5).$ Project B is expected to generate net cash flows of

R$1320000$ per year and net profits of R$520000$ per year over its useful life. The company$$s cost of capital is predicted

to be $15\%.$

Calculate the following related to the two possible investment opportunities for $2025.$ Ignore taxes. Where

applicable use the discount factors from the four decimals present value tables.

$5.$ Payback Period of both Projects $($expressed in years, months and days$).$