Octodec Limited intends acquiring new plant and equipment and has provided the following information:

The plant and equipment can be acquired at a cost of R$1400000.$ This equipment will have a four$-$year useful life and will be depreciated on a straight$-$line basis to its scrap value of R$40000.$ The new equipment will result in increases in net cash inflows as follows:

$\backslash$table$[[$Year$,\backslash$table$[[$Net cash inflows$],[$R$]]],[1,420000],[2,460000],[3,560000],[4,540000]]$

The company has a cost of capital of $10\%.$

REQUIRED:

$3\mathrm{.}1$ Calculate the payback period

$(2)$

$($ the answer must be reflected in years and months$)$

$3\mathrm{.}2$ Calculate the net present value.

$(4)$

$($Use discount factors from module guide to four decimal places$)$