Exercise 16 Yappy Company is considering a capital investment of $320,000 in additional equipment. The new equipment is expected to have a useful life of 8 years with no salvage value. Depreciation is computed by the straight-line method. During the life of the investment, annual net income and cash inflows are expected to be $22,000 and $62,000, respectively. Yappy requires a 10% return on all new investments. Present Value of an Annuity of 1 Period 8% 9% 10% 11% 12% 15% 5.747 5.535 5.335 5.146 4.968. 4.487 Compute each of the following: Round cash payback period, profitability index and annual rate of return to 2 decimal places, e.g. 15.25.) 5.16 years 1. Cash payback period 2. Net present value 3. Profitability index 4. Intern rate of return. 5. Annual rate of return Indicate whether the investment should be accepted or rejected. Investment should be