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 $2,166,667. 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 Cash Expenses 1 $2,940,000 $2.290.000 2 2,940,000 2,290,000 3 2,940,000 2,290,000 4 2,940,000 2,290,000 5 2,940,000 2,290,000 The present value tables provided in Exhibit 198.1 and Exhibit 198.2 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 2. Compute the project's accounting rate of return. Enter your answer as a whole percentage value (for example, 15% should be entered as "16" in the answer box). % 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. X 4. Compute the project's internal rate of return. Enter your answers as whole percentage values. Between 10 X % and 15 X %