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 $491000 cost with an expected four year life and a $20,000 salvage value Additional annual information for this new product line follows. (PV OS1. EV of $1. PVA of S1, and EVA of S1 (Use appropriate factor(e) from the tables provided.) Sales of new product 5 1,360,000 Expenses Materials, Inbor, and overhead (except depreciation) 1,494,000 Depreciation Machinery 117,750 Selling general, and administrative expenses 106,000 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 8% Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Determine income and net cash flow for each year of this machine's life. Cash Flow Income 1.860,000 5 Annual amounts Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation Machinery Selling general, and administrative expenses Income Net cash flow 1.494,000 117.750 166,000 82.250