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Your division is considering two investment projects, each of which requires an up-front expenditure of R25 million. You estimate that the cost of capital is

Your division is considering two investment projects, each of which requires an up-front expenditure of R25 million. You estimate that the cost of capital is 10% and that the investments will produce the following after-tax cash flows (R millions).What is the regular payback period for each of the projects? (4) 5.2. What is the discounted payback period for each of the projects? (4) 5.3. If the two projects are independent and the cost of capital is 10%, which project or projects should the company undertake? (4) 5.4. If the two projects are mutually exclusive and the cost of capital is 5%, which project or projects should the company undertake

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