Factor Company is planning to add a new product to its line. To manufacture this product, the company needs to buy a new machine at a $511,000 cost with an expected four-year life and a $23,000 salvage value. All sales are for cash, and all costs are out-of-pocket, except for depreciation on the new machine. Additional $1) (Use appropriate factor(s) from the tables provided.) tion includes the following. (PV of S1. FV of $1. PVA of $1, and EVA of Expected annual sales of new product Expected annual costs of new product $1,860,000 Direct materials Direct labor 455,000 677,000 337,000 166,000 Selling and administrative expenses Income taxes Required: 1. Compute straight-line depreciation for each year of this new machine's life. 2. Determine expected net income and net cash flow for each year of this machine's life. this machine's payback period, assuming that cash flows occur evenly throughout each year the net present value for this machine using a discount rate of 7% and te this machine's accounting rate of return, assuming that income is eamed evenly throughout each year assuming that cash flows occur at each year-end. 5. Compute (Hint: Salvage value is a cash inflow at the end of the asset's life.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Compute the net present value for this machine using a discount rate of 7% and assuming that cash flows occur at each year end. (Hint: Salvage value is a cash inflow at the end of the asset's life.) (Do not round intermediate calculations.) Chart Values are Based on: n a