Question 1 (25 Marks) Study the information given below and answer the following questions: Ine equipment costs K7 UUU UUU ror each project and no scrap value is expected. I he required rate or retum is 12%. NOTE: Where present value tables are required, use tables with 4 decimal places. REQUIRED 1.1 Calculate the Payback Period of Nik and Nak Equipment. (Answer must be expressed in years, months and days.) (8 marks) 1.2 Calculate the Accounting Rate of return (on average investment) of Nak Equipment (answer expressed to two decimal places). (6 marks) 1.3 Calculate the Net Present Value of Nik Equipment. (Round off amounts to the nearest Rand.) (5 marks) 1.4 Calculate the Internal Rate of Return of Nak Equipment (answer expressed to two decimal places). (6 marks)