Factor Company is planning to add a new product to its line. To manufacture this product, the company needs 5511,000 cost with an expected four-year life and a $23,000 salvage value. All sales are for cash, and all co5 except for depreciation on the new machine. Additional information includes the following. (PV of $1. FYof S1. $1) (Use appropriate factor(s) from the tables provided.) to buy a n ew machine at and FVA 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 38% Required: 1. Compute straight-line depreciation for each year of this new machine's life. 2. D expected net income and net cash flow for each year of this machine's life. te this machine's payback period, assuming that cash flows occur evenly throughout each year. 4. Compute this machine's 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.) ting rate of return, assuming that Complete this question by entering your answers in the tabs below. Required 1Required 2 Required 3 Required 4 RequiredS5 Compute straight-line depreciation for each year of this new machine's life. Straight-line depreciation