Fitzgerald Company is planning to acquire a $250,000 machine that will provide increased efficiencies, thereby reducing annual cash operating costs by $80,000. The machine will be depreciated by the straight-line method over a five-year life, with no salvage value at the end of five years. Assuming a 40% income tax rate, t, and that cash flows occur evenly throughout the year, the machine's estimated payback period (rounded to two decimal places) is: Multiple Choice 5.21 years. O 3.21 years. 4.81 years. 3.68 years. 3.13 years. Which one of the following is the estimated rate (i.e., percentage) that makes the discounted present value of future after-tax cash inflows of a project equal to the initial investment outlay for the project? Weighted-average cost of capital (WACC). Book (accounting) rate of return. Internal rate of return (IRR). Accounting rate of return (ARR), after tax. Payback period, in years