Gravina Company is planning to spend $8,500 for a machine that it will depreciate on a straight-line basis over 10 years with no salvage value. The machine will generate additional cash revenues of $1,700 a year. Gravina will incur no additional costs except for depreciation. Its income tax rate is 40%. (For parts 3 and 4 of this question use Table 1 and Table 2.) Required: 1. What is the payback period of the proposed investment under the assumption that the cash inflows occur evenly throughout the year? (Round your answer to 2 decimal places.) 2. What is the accounting (book) rate of return (ARR) based on the initial investment outlay? (Round your answer to 1 decimal place.) 3. What is the maximum amount that Gravina Company should invest if it desires to earn an internal rate of return (IRR) of 15%? (Do not round intermediate calculations. Round your final answer to the nearest whole dollar amount.) 4. What is the minimum annual (pretax) cash revenue required for the project to earn a 15% internal rate of return? (Round your intermediate calculations and final answer to the nearest whole dollar amount.) 1. Payback period 2. Book rate of return 3. Maximum amount 4. Minimum annual (pretax) years %