A Grow Well Industries has a project with the following projected cash flows: Initial Cost, Year 0: - $24,000 Cash flow year one to year three: $ 6,000 Cash flow year four to year six: $10,000 i. Using a 12% discount rate for this project and the NPV model, determine whether this project should be accepted or rejected. Show your working clearly and provide your answer to 2 decimal places. [7 Marks] ii. Show that the internal rate of return is approximately 21.23%. [7 Marks] B The Deep Ocean is considering a project with an initial cost of $50,400. The project will produce the following cash flows: Year Cash flows 1 $9,600 2 $21,600 3 4 $2,400 $26,400 $14,400 5 What is the payback period? If the cutoff period is 4years, should the project be accepted? Show your working clearly and provide your answer to 2 decimal places. [6marks]