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 $20,000 salvage value. Additional annual Information for this new product line follows. (PV of $1. EV of $1, PVA of $1, and EVA of $1) (Use appropriate factor(s) from the tables provided.) Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation-Machinery Selling, general, and administrative expenses Required: 1. Determine Income and net cash flow for each year of this machine's life $ 1,880,000 1,469,000 122,750 157,000 2. Compute this machine's payback period, assuming that cash flows occur evenly throughout each year. 3. Compute net present value for this machine using a discount rate of 8% Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Determine income and net cash flow for each of this machine's life. Annual amounts Income Cash Flow $ 1,000,000 Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation-Machinery Selling general, and administrative expenses Income Net cash flow 1,400.000 122,750 157,000 $ 131,250