Exercise 19.10 Basic Concepts OBJECTIVE 23 4 Roberts Company is considering an investment in equipment that is capable of producing more efficiently than the current technology. The outlay required is $2,293,200. The equipment is expected to last five years and will have no salvage value. The expected cash flows associated with the project are as follows: Year Cash Revenues Cash Expenses u AWN- $2,981,160 $2,293,200 2,981,160 2,293,200 2,981,160 2,293,200 2,981,160 2,293,200 2,981,160 2,293,200 Required: 1. Compute the project's payback period. 2. Compute the project's accounting rate of return. 3. Compute the project's net present value, assuming a required rate of return of 10 percent. 4. Compute the project's internal rate of return