TAW Enterprises is considering investing in one or two projects, viz. Project A and Project B. Each project will require an investment of R350 000. The expected net cash inflows for the projects are as follows.

Year	Project A	Project B
	R	R
1	50 000	100 000
2	60 000	100 000
3	70 000	100 000
4	160 000	100 000
5	150 000	100 000

no scrap values are anticipated. each project depreciates at R70 000 per year. the required rate of return is 12%

1.1 payback period of both projects. ( answers must be expressed in years, months, and days)

1.2 calculate the accounting rate of return (on average investment) of Project B

1.3 Based on the Net Present Value appraisal method which project would you choose.