8. A project proposal submitted to you for evaluation follow: Investment, including depreciable assets of P495,000 with economic life of six years) Annual sales revenue 865,000 750,000 43.5% 295,000 25% Variable cost of sales Annual cash operating costs Income tax rate 25% Required: a. Annual cash return, payback period and internal rate of return. (15 pts) b. If the corporate cost of capital is 8%, should the project be implemented