1. Corn Doggy, Inc. produces and sells corn dogs. The corn dogs are dipped by hand. Austin Beagle, production manager, is considering purchasing a machine that will make the corn dogs. Austin has shopped for machines and found that the machine he wants will cost $179,000. In addition, Austin estimates that the new machine will increase the company's annual net cash inflows by $22,000. The machine will have a 12-year useful life and no salvage value. a. Calculate the cash payback period. b. Calculate the machine's internal rate of return. C. Calculate the machine's net present value using a discount rate of 8%. d. Calculate the machine's annual rate of return. (Hint: You will need to calculate Net Income from the Net Annual Cash Flow amount that is given in the problem). TABLE 3 Present Value of 1 Periods 4% 96154 95238 94340 93458 .92593 91743 90909 90090 89286 86957 92456 90703 89000 87344 .85734 84168 82645 81162 .79719.75614 88900 86384 .83962 81630 .79383 77218 75132 .73119 .71178 65752 85480 82270 79209 76290 73503 .7084368301 65873 63552 57175 2193 78353 74726 71299 68058 64993 62092 59345 .56743 49718 79031 74622 70496 66634 63017 .59627 .56447 53464 .50663 43233 75992 71068 66506 62275 .58349 54703 .51316 48166 45235 37594 .73069 .67684 .62741 .58201 .54027 .50187 .46651 .43393 .40388 .32690 70259 6446 59190 54393 .50025 46043 42410 39092 36061 28426 67556613955839 .50835 46319 4224 .38554 35218 32197 24719 6495858468 52679 47509 42888 .3875335049 31728 28748 21494 .62460 .55684 .49697 .44401 .39711 .35554 .31863 .28584 .25668 .18691 60057.53032 46884 41496 36770 32618 .28966 .25751 .22917 16253 .57748 .50507 .44230 .38782 .34046 .29925 .26333 .23199 .20462 .14133 55526 48102 41727 36245 31524 .27454 .23939 .20900 18270 12289 53391 58 39365 33873 .29189 25187 21763 18829 16312 .10687 51337 43630 37136 31657 2702723107 .19785 .16963 14564 .09293 49363 41552 35034 29586 .25025 21199.17986 15282 .13004 08081 47464 39573 33051 27615 23171 19449 1635 13768 .11611 07027 45639 37689 31180 .25842 21455 .17843 14864 12403.10367 .06110 2 2