3.1 Consider two projects whose cash inflows are not even. Assume that the project costs R205 000. The net cash inflows for each year are as follows: Year Project X Project Y 1 R30 000,00 R75 000,00 2 R35 000,00 R95 000,00 3 R65 000,00 R60 000,00 4 R55 000,00 R26 000,00 5 R75 000,00 6 R95 000,00 REQUIRED 3.1.1 Calculate the payback period of each project and recommend the project that should be selected based on the payback period. ( 6 Marks)