REQUIRED Study the information given below and calculate the following. Where discount factors are required use only the four decimals present value tables that appear after the formula sheet or in the module guide. Ignore taxes. 5.1 Payback Period of Project A (expressed in years, months and days).(3 marks)5.2 Accounting Rate of Return on initial investment of Project A (expressed to two decimal places).(4 marks)5.3 Net Present Value of both projects. (7 marks)5.4 Internal Rate of Return of Project A (expressed to two decimal places) if it has no scrap value. Your answer must include two net present value calculations (using consecutive cost of capital rates/percentages) and interpolation. (6 marks) INFORMATION The following information relates to two capital expenditure projects. Because of capital rationing, only one project can be accepted. Project A Project B Initial cost R1600000 R1600000 Expected useful life 5 years 5 years Expected scrap value R1000000 Expected net profit: R R End of year1320000220000224000022000032200002200004180000220000560000220000 The company estimates that its cost of capital is 12%.Depreciation is calculated using the straight-line method.