Grouper Company is considering a capital investment of $305,370 in new equipment. The equipment is expected to have a 5-year useful life with no salvage value. Depreciation is computed by the straight-line method. During the life of the investment, annual net income and cash flows are expected to be $32,000 and $87,000, respectively. Grouper's minimum required rate of return is 10%. The present value of 1 for 5 periods at 10% is 0.62092 and the present value of an annuity of 1 for 5 periods at 10% is 3.79079. Instructions Compute each of the following: (a) The cash payback period. (b) The net present value of the total investment. (c) The profitability index. (d) The Internal rate of return (e) The annual rate of return