ALGS Ltd. wants to purchase a new machine for $29,900.excluding $1.500 in installation costs. The old machine was bought five years ago and had an expected economic life of 10 years without salvage value. This old machine now has a book value of $1,900 and ALGS Ltd. expects to sell it for that amount. The new machine would decrease operating costs by $8,300 each year of its economic life. The straight-line depreciation method would be used for the new machine, for a five-year period with no salvage value. (a) Your answer is correct Determine the cash payback period. (Ignore income taxes.) (Round answer to 4 decimal paces, eg. 1.2501. Cash payback period years eTextbook and Media Attempts: 2 of 2 used (b) X Your answer is incorrect Calculate the annual rate of return. (Round answer to 3 decimal paces, eg. 12.512%. Annual rate of return eTextbook and Media Attempts: 2 of 2 used Calculate the net present value assuming a 9% rate of return. (Ignore income taxes. Of the net present value is negative, use either a negative sign preceding the number eg.-45 or parentheses eg. (45). For calculation purposes, use 5 decimal places as displayed in the factor table provided, eg. 1.25124 and final answer to decimal places, eg. 5,275.) Click here to view PV table Net present value $