Zeta Industries Details:

• Initial investment of R450,000 and residual value of R30,000.
• Cashflows and discount factors:

Year	Cashflows	Discount Factor
Year 1	R60,000	0.909
Year 2	R110,000	0.826
Year 3	R120,000	0.751
Year 4	R80,000	0.683
Year 5	R70,000	0.621

• Cost of capital: 8%
• Depreciation: R25,000 per year
• Tax rate: 27%

Required:

1. Calculate each of the following: 1.1 Accounting Rate of Return 1.2 Payback period 1.3 Net Present Value (NPV) 1.4 Discounted Payback Period