Delta Corp Details:

• Initial investment of R600,000 and residual value of R40,000.
• Cashflows and discount factors:

Year	Cashflows	Discount Factor
Year 1	R90,000	0.909
Year 2	R140,000	0.826
Year 3	R130,000	0.751
Year 4	R100,000	0.683
Year 5	R80,000	0.621

• Cost of capital: 9%
• Depreciation: R30,000 per year
• Tax rate: 26%

Required:

1. Calculate each of the following: 1.1 Accounting Rate of Return 1.2 Payback period 1.3 Net Present Value (NPV) 1.4 Internal Rate of Return (IRR)