ABC company is considering replacing an existing machine with a new machine. Two possible new machines exist, model XY or model M55. Either machine would cost $50,000, and each has an estimated life of five years. The after-tax cash flows are as follows: Year 1 2 3 XY -p $6,000 13,000 20,000 25,000 20,000 M55 $16,500 16,500 16,500 16,500 16,500 4 5 2) Assuming a discount rate of 10%, compute the net present value of each machine 3) Compute the payback period for each machine 4) compute the accounting rate of return for each machine using (a) initial investment and (b) average investment