Fast Flack Flick is considering purchasing the first fast photo processing machine. The machine is capable of printing out photos in exceptionally quick time. The initial outlay will be $$250,000.$ The photo processing machine is expected to last for $5$ years with no salvage value at the end and is depreciated using the straight line method. The new machine is expected to increase the firm's revenues by $$80,000$ per year. Annual operating costs for the machine are expected to be $$12,000$ per year. The required rate of return is $12\%.$ The tax rate is $30\%.$

Required:

Measure the after$-$tax cash flows and determine the payback period and net present value.