Dollie Manufacturing Company is considering investing $493,000 in a new equipment with an estimated useful life of 8 years and a salvage value of $6000. The equipment is expected to produce $484,000 in cash inflows and $348,000 in cash outflows annually. The company uses straight-line depreciation and has a 30% tax rate. Required: a. Determine the annual estimated net income and net cash flow (round answers to the nearest dollar). b. Explain the difference between net income and net cash flow. c. Calculate the payback period in years (round to one decimal place) d. Calculate the accounting rate of return (show percent rounded to one decimal place) Dollie Manufacturing Company is considering investing $493,000 in a new equipment with an estimated useful life of 8 years and a salvage value of $6000. The equipment is expected to produce $484,000 in cash inflows and $348,000 in cash outflows annually. The company uses straight-line depreciation and has a 30% tax rate. Required: a. Determine the annual estimated net income and net cash flow (round answers to the nearest dollar). b. Explain the difference between net income and net cash flow. c. Calculate the payback period in years (round to one decimal place) d. Calculate the accounting rate of return (show percent rounded to one decimal place)