Marks [15] Jack Fraizer has the opportunity to invest in a project. The cost of the project is R8 million, with the following estimated future cash flows: Year Cash Flow Year Cash flow 1 R2,400,000 2 R3,000,000 3 R4,000,000 4 R3,200,000 5 R1,800,000 Note: Ignore Taxation The project has a zero residual value The company's required rate of return (cost of capital) is 14%. Use the following discount factors to calculate net present value: Year Discount Factor 1 0.877 2 0.769 3 0.675 4 0.592 5 0.519 Required: 2.1 Calculate the following for the project: 2.1.1 The payback period (5) 2.1.2 Net present value