Business Accounting questions. Thank you for your help!

56) The management of Favreau Corporation is considering the purchase of a machine that would cost $310,464 and would have a useful life of 5 years. The machine would have no salvage value. The machine would reduce labor and other operating costs by $84,000 per year. The internal rate of return on the investment in the new machine is closest to: A) 14% B) 13% C) 1290 D) 11% 59) When Nancy graduates from college, her father has promised to give her a new car that will cost $20,000. Nancy plans to graduate in four years. What lump sum must Nancy's father invest now to have the $20,000 at the end of four years if he can invest money at 5967 A) $ 10,000 B) $5,000 C) $16,460 D) $5,640 60) How much would you have to put in the bank today to have $750 at the end of seven years if the interest rate is 4%? A) $616.50 B) $588.00 C) $641.25 D) $570.00 56) The management of Favreau Corporation is considering the purchase of a machine that would cost $310,464 and would have a useful life of 5 years. The machine would have no salvage value. The machine would reduce labor and other operating costs by $84,000 per year. The internal rate of return on the investment in the new machine is closest to: A) 14% B) 13% C) 1290 D) 11% 59) When Nancy graduates from college, her father has promised to give her a new car that will cost $20,000. Nancy plans to graduate in four years. What lump sum must Nancy's father invest now to have the $20,000 at the end of four years if he can invest money at 5967 A) $ 10,000 B) $5,000 C) $16,460 D) $5,640 60) How much would you have to put in the bank today to have $750 at the end of seven years if the interest rate is 4%? A) $616.50 B) $588.00 C) $641.25 D) $570.00