Capital Expendtiure On Your Own =3 1) A company is considering the purchase of new equipment for $45,000. The projected annual net cash flows are $19,000. The machine has a useful life of 3 years and no salvage value. Management of the company requires a 12% return on investment. What is the net present value of this machine assuming all cash flows occur at year-end? 2) A company is considering a proposal to invest $40,000 in a project that would provide the following net cash flows: Compute the project's payback period