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 $880,000 cost with an expected four-year life and a $60,000 salvage value. All sales are for cash, and all costs are out-of-pocket, except for depreciation on the new machine. Additional information includes the following. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round PV factor value to 4 decimal places.) Expected annual sales of new product Expected annual costs of new product $2,840,000 Direct materials Direct labor Overhead (excluding straight-line depreciation on new machine) Selling and administrative expenses Income taxes 520,000 712,000 736,000 200,000 30% Required1Required 2Required 3 Required 4Required 5 Compute straight-line depreciation for each year of this new machine's life. Straight-line depreciation uming that c Payback Period | Choose Denominator: Choose Numerator: Payback Period = Payback period Compute this machine's accounting rate of return, assuming that income is earned evenly throughout each year Accounting Rate of Return Choose Numerator: Choose Denominator: Accounting Rate of Return Accounting rate of return Required 1Required 2 Required 3Required 4Required 5 Compute the net present value for this machine using a discount rate of 3% 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. Amounts to be deducted should be indicated by a minus sign.) Chart Values are Based on: Select Chart Cash Flow Annual cash flow Residual value Amount x PV x PV FactorPresent Value 0.00 0.00 0.00 Net present value