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 $479.000 cost with an expected four-year life and a $19.000 salvage value. Additional annual information for this new product line follows. (PV of $1, FV of $1. PVA of $1. and FVA of $1) (Use appropriate factor(s) from the tables provided.) Sales of new product $ 1,860, eee Expenses Materials, labor, and overhead (except depreciation) 1,495, eee Depreciation-Machinery Selling, general, and administrative expenses 145, eee Required: 1. Determine income and net cash flow for each year of this machine's life. 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 7%. 115, eee 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 year of this machine's life. Expected Income Revenues Expenses Expected Net Cash Flow Net cash flow Required Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute this machine's payback period, assuming that cash flows occur evenly throughout each year. Payback Period Denominator: Payback Period Numerator: Required 1 Required 2 Required 3 Compute net present value for this machine using a discount rate of 7%. (Do not round intermediate calculations. Round your present value factor to 4 decimals and final answers to the nearest whole dollar.) Chart Values are Based on: n = i = % Select Chart Amount x PV Factor Present Value Cash Flow Annual cash flow Salvage value = = Net present value =