Sunrise Company uses a standard cost system for its single product in which variable overheads are applied based on direct labour hours. The following information is given: Standard costs per unit: Raw Materials (1.5 grams x R16 per gram R24.00 Direct labour (0.75 hours x R8 per hour R6.00 Variable Operating costs: Direct labour 0.40 Materials 0.60 Variable overheads 0.25 Fixed overheads: Depreciation 1.00 Allocated costs 0.40 2.65Overhead (0.75hours x R3 per hour R2.25Unit operating costs, fixed overheads costs and selling price are expected to remain constant throughout the five-year period. The dairy expects its cost of capital to be 20% throughout the period. Required: 1. Calculate the accounting rate of return based on initial investment for the new machine. (5) 2. Calculate the payback period of the new machine. (5) 3. Calculate the net present value of the machine