Question 2 8 points Save Answer Your organisation is considering whether to hire or buy transport and handling equipment for one of the social development project they recently won in the Department of Social Development. You might need the equipment in future projects. If you buy the equipment, the cost is two million rand (R 6 000,000), and the cost of procurement and integrating in your company is three hundred and fifty thousand rand (R 350,000). If you want to hire, you pay two hundred thousand rand (R 800,000) per month for 8 months. The overhead costs apportioned to the project will be R100,000. The quality and technical specifications of the equipment is the same. The company does not meet extra costs for storage of the equipment. Which option will you choose- buy or hire? Show all calculations and justify your choice. [8] NB: If the system cannot allow you to write numerical values (eg 1000), please type in the letters (eg, One thousand)