5) Golden Flights, Inc. is considering buying some specialized machinery which would enable the company to obtain a six-year government contract for the design and engineering of a futuristic plane. The machinery costs $975,000 and is estimated to have $195,000 salvage value at the end of the six years. The machine will produce annual cash flows of $415,000 and have annual depreciation of $130,000. You are to compute the following factors for this project: a. Payback period b. Net present value of the investment in this machinery, discounted at an annual rate of 12%.