At the beginning of 2020, Cassidy Corporation is considering to replace an old machine. The old machine is fully depreciated but can still be used for five more years, that is, through 2024. If replaced, it can be sold for P 50,000 on the replacement date. The new machine has a purchase price of P 1 million. The use of the new machine will result in greater operating efficiency and will cause annual cash savings in operating costs of P 320,000 through 2024, the end of its expected useful life. Both machine will have no salvage value at the end of 2024. Cassidy Corporation requires all investments to earn a 10% after-tax rate of return to be accepted. It is subject to a 32% income tax rate. The new machine will be depreciated on a straight-line basis over a period of five years, from 2020 to 2024. Required: Compute the following: a. Net cost of investment in the new machine? b. Annual after-tax net cash inflows from operating the new machine c. Discounted payback period of the new machine d. Net present value of the new machine e. Profitability Index of the new machine f. Internal rate of return of the new machine