Corn Doggy, Inc. produces and sells corn dogs. The corn dogs are dipped by hand. Austin Beagle, production manager, is considering purchasing a machine that will make the corn dogs. Austin has shopped for machines and found that the machine he wants will cost $217,000. In addition, Austin estimates that the new machine will increase the companys annual net cash inflows by $35,000. The machine will have a 12-year useful life and no salvage value. Instructions (a) Calculate the cash payback period. (b) Calculate the machines internal rate of return. (c) Calculate the machines net present value using a discount rate of 10%. (d) Assuming Corn Doggy, Inc.s cost of capital is 10%, is the investment acceptable? Why or why not