Exercise 13.14 a-b (Part Level Submission) Dobbs Corporation is considering purchasing a new delivery truck. The truck has many advantages over the company's current truck (not the least of which is that it runs). The new truck would cost $56,327. Because that is less than 50% of the asset's estimated useful ife. Pavel Chepelev, a new manager, has suggested that the company should not rely only on the payback approach but should also use the net present value (a) Calculate the cash payback period and net present value of the proposed investment (if the net present value is negative, use either a negative sign preceding the number e.g.-45 or parentheses e.. (45). Round cash payback period to 2 decimal place, e.g. 12.51. For calculation purposes, use decimal places as displayed in the factor table provided, e.g. 1.25124 and net present value to 0 decimal places, e.g. 5,275.) Chick here to view PV table Cash payback period years Net present value $ estimated $28.100. Traditionally, the company has used a general rule that it should not accept a proposal unless has a payback pered when evaluating new projects. The company's cost of capitalis 8%