Consider a project with an estimated life of four years. The risk$-$free rate is $7\mathrm{.}8\%$ per annum. The project

carries a risk and offers a risk premium of $8\mathrm{.}9\%.$ For an initial investment of R$140000,$ the estimated cash

inflows of the project and the certainty equivalent coefficients $($CECs$)$ are as follows:

Note: For numerical answers, round off values to two decimal places after the point.

The net present value of the project using the risk$-$adjusted discount rate method equals $R$

Based on the risk$-$adjusted discount rate method, the project should be

The net present value of the project using the certainty equivalent method equals $R$

Based on the certainty equivalent method, the project should be