Average Rate of Return, Cash Payback Period, Net Present Value Method

analysis is $15\%.$

Compute the following:

$\%$

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.

Present value of annual net cash flows

$

Less amount to be invested

$

Net present value