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Assessment tool Ten multiple choice questions ABC Steel Co. is considering buying a new machine in order to increase its production capacity using new technology. Details about the new equipment are below: Purchase Cost Savings offered by the new machine Life of the new machine 300,000 $62,500 per year 15 years 1.-Calculate the payback period for the new machine a. 7.2 years b. 6.8 years c. 4.8 years d. 12.4 years 2.-The corporate policy of ABC Steel Co. is to reject all proposal with a payback period of more than 7 years. Therefore, would ABC buy the new machine? a. yes b. no c. cannot be determined d. none of above 3.-Calculate the simple rate of return of the equipment using the straight-line depreciation method based on the new machine's useful life. a. 1096 b. . d. 9.34% 14.16% 16.49% 4.-The corporate policy of ABC Steel Co. is to require a rate of return of 10%. Based on this requirement, would ABC buy the new machine? a. yes b. no c. cannot be determined d. none of above