ABC Company, a manufacturing firm, is planning to expand its operations by acquiring new machinery. The company expects the new machinery to cost $500,000 and have a useful life of 10 years. It anticipates generating additional annual revenue of $200,000 and incurring additional annual expenses of $100,000 due to the new machinery. The company's cost of capital is 10%.

Prepare a comprehensive financial analysis, including net present value (NPV), internal rate of return (IRR), and payback period, to evaluate the viability of the machinery investment for ABC Company.