Average Pate or Return, Cash Payback Penod, Net Present Value Method Cross Country Railroad Inc. Is considering aequiring equipment at a cost of $188,000, The equipment has an estimated life of 10 years and no residual value, it is expected to provide yearly net cash flows of $47,000. The company's minimum desired rate of return for net present value analysis is 12%. Compute the following: a. The average rate of return, assuming the annual earnings are equal to the net cash flows less the annual depreciation expense on the equipment. If required, round your answer to one decimal place. % b. The cash payback period. years c. The net present value, Use the above table of the present value of an annuity of $1. Round to the nearest dollar