CART AFRICAN COMPANY IS CONSIDERING INVESTING IN PROJECT AGRICOOL : THE FOLLOWING DETAILS RELATES TO THIS PROJECCT Description Project Agricool Initial investment Expected economic lifetime Minimum required rate of return Net annual cash inflows R562 500 4 Years 12% 1st year 2nd year 3rd year 4th year R180 000 R195 000 R210 000 R220 000 Required: 1 Calculate the following in respect of project AgriCool. 1.1 The payback period (answer expressed in years, months and days) (8) 1.2 The net present value (NPV) round off amounts to the nearest Rand) (5) 1.3 The internal rate of return (IRR) (answer correct to 2 decimals) (11) 1.4 Refer to your calculations in question 1.2 and state whether Getum Ltd should invest in Project AgriCool or not. Motivate your answer (1)