Minks (Ltd) is a listed company that has been successful in the past decade. In 2021, the companys board has decided to expand its operations by embarking on a new project to gain more market share. Minks (Ltd) would need to invest R30-million, payable at the beginning of the first year of the project. The project is expected to have a four-year life span. The forecast financial are as follows: Year 1 2 3 4 Units sold per year 320 000 350 000 475 000 500 000 Price per unit sold (R/unit) 140 145 150 150 Variable cost per unit (R/Unit) 70 70 70 70 Fixed costs per annum (R) 2 500 000 2 500 000 2 700 000 2 700 000 Additional project information: Price and costing information are in current terms before the application of selling price inflation of 7% per annum, variable cost inflation of 4% and fixed cost inflation of 5%; Current corporate tax is at 28% and the tax liability is payable in the year it arises. Assume profit from the project is similar to its cash flow; Minks (Ltd) has a cost of debt of 10%; The risk-free rate is 7%, the return on the market where Minks (Ltd) is listed is 15% and it has a beta coefficient of 1.1; It is the companys policy to maintain a 40/60 debt/equity financing; and Minks (Ltd) uses its weighted cost of capital in all project appraisals. Required: Recommend whether Minks (Ltd) should embark on this expansion project or not. Show all your calculations to justify your recommendation.