Directors of Holland Ltd are considering the purchase of a new machine The machine will cost $210 000 There will be net cash inflows in each of the three years of: Year 1: $80 000, Year 2: $90 000 and Year :3 $69 000 The machine is thought to have a residual value of $40 000 at the end of year 3 The required rate of return (RRR) is 12% 1. Calculate the Payback Period for this Investment. 2. If the payback period is less than a pre-specified length of time or less than the life of the investment you accept the project. 3.The payback period (PP) method of investment decision making is generally regarded as