ONE [25] Jayjee Ltd are looking to invest in new property which would serve as their new headquarters in Umanzimtoti. The following information has been extracted from the reports relating to the project: Investment R2 000 000 Average annual profit R534 000 Life span 5 years Minimum required rate of return 14% Net Cash flows: 1 st year R200 000 2 nd year R450 000 3 rd year R600 000 4 th year R620 000 5 th year R800 000 Required: 1.1 Calculate the accounting rate of return (Express the answer to two decimal places). (5) 1.2 Calculate the payback period (Answer in years, months and days). (5) 1.3 Calculate the net present value. (Round off amounts to the nearest Rand). (8) 1.4 Would the project be acceptable at a cost of capital of 11%? Motivate your answer with an appropriate calculation. (7