Bridgeport Corporation is considering purchasing a new delivery truck. The truck has rnary advantages over the compary's curtent truck (not the least of which is that it rurs). The new truck would cost $56,985. Because of the increased capacity, reduced maintenance costs, and increased fuel economy, the new truck is expected to generate cost savings of $8,700. At the end of eight years, the company will sell the truck for an estimated $27,700. Traditionally, the company has used a general rule that it should not accept a proposal unless it has a payback period thatis less than 50% of the asset's estimated useful life. Jason Young. a new manager. has sugsested that the company should not rely only on the payback approach but should also use the net present value method when evaluating new projects. The company's cost of capital is 8% (a) Calculate the cash payback period and net present value of the proposed investment. OII the net present value is negative, use either a negative sizn preceding the number es. 45 or parentheses es. (45). Round cash paybock period to 2 decimal place, es. 12.51 . For calculation purposes, use 5 decimal places as displayed in the factor toble provided, es. 1.25124 and net present value to 0 decimal places, es. 5,275J Click here to view the factor table. Does the project meet the company's cash payback criteria? Does it meet the net present value criteria for acceptance? The project net present value criteria. eTextbook and Media