Blue Spruce Company is considering a capital imvestment of $319,920 in additional productive facilities. The new machinery is expected to have a useful life of 5 years with no salvage value. Depreciation is computed by the straight-line method. During the life of the investment, annual net income and cash flows are expected to be $29,000 and $93,000, respectively. Blue Spruce has a 12\% cost of capital rate, which is the minimum acceptable rate of return on the investment. Click here to view PV tables (a) Yoor anwer has been saved, See score details after the due date. Compute the cash paybick period on the proposed capital expenditure (Round answer to 2 decimal ploces, e.8. 15.25.) years Attempts: 1 of 1 used (b) Using the discounted cash flow technique, compute the net present value. (Use the above table.) (Round foctor volues to 5 decimal places, e.3. 1.25124 and finol answer to 0 decimol places, es. 5,275.) Net present value