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 $495,000 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 $ 1,930,000 Expenses Materials, labor, and overhead (except depreciation) 1,483,000 Depreciation Machinery 119,000 Selling, general, and administrative expenses 175,000 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 6%. 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 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