(b) Sakura Limited uses the Accounting Rate of Return (ARR) as the basis of evaluating projects for investment of its scarce financial resources. It uses its predetermined expected return on capital as the basis for the choice of investment projects. The company's Finance team has provided the information below regarding various projects and their initial investments and net cash flows. The hurdle rate or target Accounting Rate of Return for Sakura is 25%. Project Initial Investment Net Cash flows Year 1 Year 2 Year 3 Year 4 Year 5 Required: (i) (ii) A (Tk.) 1,000,000 600,000 500,000 400,000 300,000 B (TK.) 1,600,000 700,000 600,000 500,000 500,000 400,000 C (Tk.) 2,000,000 800,000 600,000 500,000 400,000 Calculate the Accounting Rate of Return for each project (Average Investment basis). Using the target return of 25% advice Sakura Limited which projects should be undertaken.