A proposal to add a jet to the companys fleet. The plane was only six years old and was considered a good buy at $300,000. In return, the plane would bring over $600,000 in additional revenue during the next five years with only about $56,000 in operating costs. Compute the payback period, IRR, NPV, and profitability index using 10% as the discount rate. Initial Expenditures Year 1 Year 2 Year 3 Year 4 Year 5 Net cost of new plane $300,000 Additional revenue $43,000 $76,800 $112,300 $225,000 $168,750 Additional operating costs 11,250 11,250 11,250 11,250 11,250 Depreciation 45,000 66,000 63,000 63,000 63,000 Net increase in income (13,250) (450) 38,050 150,750 94,500 Less: Tax at 33% 0 0 12,557 49,748 31,185 Increase in aftertax income ($13,250) ($450) $25,494 $101,003 $63,315 Add back depreciation $45,000 $66,000 $63,000 $ 63,000 $63,000 Net change in cash flow ($300,000) $31,750 $65,550 $88,494 $164,003 $126,315