At a cash cost of $22,000, Adams Inc. can acquire a machine that will increase annual net income by $1,200. Included among the expenses in the calculation of net income is depreciation on the machine. Adams expects the new machine to have a 5-year useful life and no salvage value, and her company uses straight-line depreciation. Assume that all revenue and expenses - other than depreciation - will be received or paid in cash in the same period as recognized for accounting purposes. Required: A. What are the cash flows for each year of the 5-year period? B. Calculate the Payback Period. C. Calculate the Net Present Value using a required rate of return of 12%