Basic Concepts Roberts Company is considering an investment in equipment that is capable of producing more efficiently than the current technology. The outlay required is $2,333,333. The equipment is expected to last five years and will have no salvage value. The expected cash flows associated with the project are as follows: Year Cash Revenues 1 $2,970,000 Cash Expenses $2,270,000 2,270,000 2,270,000 2 2,970,000 2,970,000 3 4 2,970,000 2,970,000 2,270,000 2,270,000 5 The present value tables provided in Exhibit 19B.1 and Exhibit 19B.2 must be used to solve the following problems. Required: 1. Compute the project's payback period. If required, round your answer to two decimal places. 3.33 years freturn. Enter your answer as a whole percentage value (for example, 16% should be entered as "16" in the answer box). 2. Compute the project's accounting rate 10 % 3. Compute the project's net present value, assuming a required rate of return of 10 percent. When required, round your answer to the nearest dollar. $ 700,000 X 4. Compute the project's internal rate of return. Enter your answers as whole percentage values. Between % and % Feedback Check My Work