Chapter 12 Homework Question 6 of 9 < > View Policies Current Attempt in Progress -/2 1 Cullumber Company is considering a capital investment of $216,200 in additional productive facilities. The new machinery is expected to have a useful life of 5 years with no salvage value. Depreciation is by the straight-line method. During the life of the investment. annual net income and net annual cash flows are expected to be $10,810 and $47,000, respectively. Cullumber has a 12% cost of capital rate, which is the required rate of return on the investment. Click here to view the factor table. (a) Compute the cash payback period. (Round answer to 1 decimal place, es. 10.5.) Cash payback period years Compute the annual rate of return on the proposed capital expenditure. (Round answer to 2 decimal places, eg 10.52%) Annual rate of return %