Cheyenne Company is considering a capital investment of $332,800 in additional equipment. The new equipment is expected to have a useful life of 8 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 $27,000 and $67,000, respectively. Cheyenne requires a 10% return on all new investments. (a) Your answer is partially correct. Compute each of the following: (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round cash payback period, profitability index and annual rate of return to 2 decimal places, e.g. 15.25 and other answers to 0 decimal places, eg. 5,275.) eTextbook and Media Attempts: unlimited (b) Indicate whether the investment should be accepted or rejected. Investment should be