Question 4 20 marks Ignore income taxes in this problem.) Protective Clothing (Pty) Ltd, is considering a project that would have a ten-year life and would require a R1,500,000 investment in equipment. At the end of ten years, the project would terminate and the equipment would have no salvage value. The project would provide net operating income each year as follows: R2 000 000 1 100 000 900 000 Sales Variable Expenses Contribution Margin Fixed Expenses Fixed out-of-pocket cash expenses Depriciation Net operating Income R 500 000 150 000 650 000 R250 000 All of the above items, except for depreciation, represent cash flows. The company's required rate of return is 12%. Required: a. Compute the project's net present value. (10) b. Compute the project's internal rate of return to the nearest whole percent.(4) c. Compute the project's payback period. (3) d. Compute the project's simple rate of return. (3)