Exercise 24-6 (Algo) Payback period, equal cash flows, and accounting rate of return LO P1, P2 B2B Company is considering the purchase of equipment that would allow the company to add a new product to its line. The equipment costs $288,000 and has a 12-year life and no salvage value. The expected annual income for each year from this equipment follows. Sales of new product $ 180,000 Expenses Materials, labor, and overhead (except depreciation) 96,000 Depreciation-Equipment 24,000 Selling, general, and administrative expenses 18,000 $ 42,000 (a) Compute the annual net cash flow. (b) Compute the payback period. (c) Compute the accounting rate of return for this equipment. Income Complete this question by entering your answers in the tabs below. Required A Required B Required Compute the annual net cash flow. Annual Net Cash Flow Net cash flow