The following information relates to two projects. Project X and Project Y from which one must be chosen by the Super Limited. Cash flows are as follows for the projects: Year Project X Project Y 1 80 000 72 000 2 70 000 72 000 3 90 000 72 000 4 60 000 72 000 Average accounting profits are as follows: Project X - R25 000 Project Y - R22 000 Both projects require an investment of R200 000. As the project leader, you are required to: 3.1 Calculate the accounting rate of return for both projects. (6 Marks) 3.2 Calculate the payback period for both the projects. (Answer in years, months and days) (6 Marks) 3.3 Calculate the net present value for each project using a discount rate of 12%. (8 Marks) 3.4 Calculate the internal rate for Project Y. (5 Marks)