MBC Limited is planning to embark on a new project in the heart of Cape Town. The project will require an initial investment in plant and equipment as well as licensing worth R1,250,000. The project has an expected economic life of 5 years and a cost of capital of 12%. The project's expected cash inflows are as seen below. a) Calculate the payback period for the project. b) Calculate the discounted payback period for the project. c) Calculate the Net Present Value of the project. d) Should MBC Limited embark on this project based on its Net Present Value? Explain why. Page 2 of 5 e) Calculate the Internal Rate of Return (IRR) for the project. f) Mr. Sjava, the recently hired manager for this potential project, is not convinced that using the IRR is sufficient to assess the project's viability. Calculate the Modified Internal Rate of Return (MIRR) that should be used. g) Based on this MIRR, should the project be accepted? Explain why