Emma's Bakery plans to purchase a new oven for its store. The oven has an estimated useful life of 4 years. The estimated pretax cash flows for the oven are as shown in the table that follows, with no anticipated change in working capital. Emma's Bakery has a 12% after-tax required rate of return and a 31% income tax rate. Assume depreciation is calculated on a straight-line basis for tax purposes using the initial investment in the oven and its estimated terminal disposal value. Assume all cash flows occur at year-end except for initial investment amounts. (Click the icon to view the estimated cash flows for the oven.) Present Value of $1 table Present Value of Annuity of $1 table Euture Value of $1 table Euture Value of Arinuity of $1 table Read the requirements: Data table Reference 1. Calculate (a) net present value, (b) payback period, and (c) internal rate of return 2. Calculate accrual accounting rate of return based on net initial investment