help please!!!!!!

Cullumber inc wants to purchase a new machine for $31,420, excluding $1,300 of installation costs. The old machine was purchased 5 years ago and had an expected economic life of 10 years with no salvage value. The old machine has a book value of $2,200, and Cullumber Inc, expects to sellit for that amount. The new machine will decrease operating costs by $7,000 each year of its economic life. The straight-line depreciation method will be used for the new machine for a 6 -year period with no salvage value. Click here to view the factor table. (a) Determine the cash payback period. (Round cash poyback period to 2 decimal places, es. 10.53) Cash payback period vears (b) Determine the approximate internal rate of return, (Round answer to 0 decimal places, es. 13\%. For calculation purposes, use 5 decimal places as displayed in the foctor table provided) Internal rate of return Assuming the company has a required rate of return of 8%, determine whether the new machine should be purchased. The investment be accepted. Read aloud Ask Bing Al of 4 CD TABLE 1 Future Value of 1 \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|} \hline \begin{tabular}{c} (n) \\ Periods \end{tabular} & 4% & 5% & 6% & 7% & 8% & 9% & 10% & 11% & 12% & 15% \\ \hline 0 & 1.00000 & 1,00000 & 1.00000 & 1.00000 & 1.00000 & 1.00000 & 1.00000 & 1.00000 & 1.00000 & 1,00000 \\ \hline 1 & 1. & 5000 & 6000 & 1.07000 & 8000 & 9000 & 0000 & 11000 & 2000 & 15000 \\ \hline 2 & 1.08160 & 9250 & 2360 & 1.14490 & 6640 & 8810 & 1.21000 & 1.23210 & 1.25440 & \begin{tabular}{l} 250 \\ 088 \end{tabular} \\ \hline 3 & 2486 & 763 & 1.19102 & 1.22504 & 971 & 1.29503 & 1.33100 & 1.36763 & 10493 & 088 \\ \hline 4 & 1.16986 & 551 & 1.26248 & 1.31080 & 049 & 1.41158 & 1.46410 & 1.51807 & 1.57352 & \begin{tabular}{l} 1.74901 \\ 2.01136 \end{tabular} \\ \hline 5 & 1.21665 & 1.27628 & 1.33823 & 1.40255 & 1,46933 & 1.53862 & 1.61051 & 1.68506 & 1.76234 & 2.01136 \\ \hline 6 & 1.26532 & 1.34010 & 1.41852 & 1.50073 & 1.58687 & 1.67710 & 1.77156 & 1.87041 & 7382 & \begin{tabular}{l} 2.31306 \\ 2.66002 \end{tabular} \\ \hline 7 & 1 & 1 & 9363 & 1 & 1 & & 872 & 16 & & \\ \hline 8 & & 746 & 1.59385 & 1819 & & 9256 & 4359 & 10454 & 596 & 902 \\ \hline 9 & 331 & 1.5 & 8948 & 3846 & Do & 2 & 5795 & 2.55803 & 308 & 1788 \\ \hline 10 & 1.48024 & 1.62889 & 1.7 & 1.96715 & 2.15892 & 2.3 & 2.59374 & 2.83942 & 3.10585 & 4.04556 \\ \hline 11 & 1.53945 & 1.71034 & 39830 & 2.10485 & 2.33164 & 2.58043 & 2.85312 & 3.15176 & 7855 & \begin{tabular}{l} 4.65239 \\ 5.35025 \end{tabular} \\ \hline 12 & 03 & 1 & & & 17 & & & & \begin{tabular}{l} 598 \\ 349 \end{tabular} & \\ \hline 13 & 1,6 & 65 & 2.13293 & 2. & 2.71962 & 6581 & 3.45227 & 28 & 49 & \\ \hline 14 & 1.7 & 1.97993 & 2.26090 & & 3719 & 3.34173 & 3.79750 & 244 & \begin{tabular}{l} 11 \\ 57 \end{tabular} & \begin{tabular}{l} .07571 \\ 13706 \end{tabular} \\ \hline 15 & 1.80094 & 2.07893 & 2.39656 & 2.75903 & 3.17217 & 3.64248 & 4.17725 & 4.78459 & & 8,13706 \\ \hline 16 & 1.8729 & 2.18287 & 2.54035 & 2.95216 & 3,42594 & 3.97031 & 4.59497 & 5.31089 & 39 & \begin{tabular}{r} 9.35762 \\ 10.76126 \end{tabular} \\ \hline & 1.94790 & 2.29202 & & & 3,70 & 4.32763 & & & & \begin{tabular}{l} 6126 \\ 7545 \end{tabular} \\ \hline 18 & 2,02582 & 2.40062 & & 9993 & 3.99602 & 4.71712 & 55992 & 55 & \begin{tabular}{l} 7.68997 \\ 8.61276 \end{tabular} & \begin{tabular}{l} 12,37545 \\ 14,23177 \end{tabular} \\ \hline 19 & 2.10685 & 2.52695 & 3.02560 & & 4.31570 & 5.14166 & 6.11591 & 7.26334 & \begin{tabular}{l} 8.61276 \\ 9.64629 \end{tabular} & \begin{tabular}{l} 14,23177 \\ 16,36654 \end{tabular} \\ \hline 20 & 2.19112 & 2.05330 & 3.20714 & 3.86968 & 4.66096 & 5.60441 & 6.72750 & 8.06231 & 9.64629 & 16.36654 \\ \hline \end{tabular} DBLE 2 Future Value of an Annuity of 1 \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|} \hline \begin{tabular}{l} (ii) \\ Payments \end{tabular} & 40 & 5% & 6% & 7% & 8% & 9% & 10% & 11% & 12% & 15% \\ \hline 1 & 1.00000 & 1,00000 & 1.00000 & 1.0000 & 1.00000 & 1,00000 & 1.00000 & 1.00000 & 1.00000 & 1.00000 \\ \hline 2 & 2.04000 & 2.05000 & 2.06000 & 2.0700 & 2.08000 & 2.09000 & 2,10000 & 2.11000 & 2.12000 & 2.15000 \\ \hline 3 & 3.12100 & 3.15250 & 3.18360 & 3.2149 & 3,24640 & 3.27810 & 3.31000 & 334210 & 3.37440 & 3.47250 \\ \hline 4 & \begin{tabular}{r} 4.24646 \\ 5.632 \end{tabular} & 4.31013 & 4.37462 & 4.4399 & 450611 & \begin{tabular}{l} 4.57313 \\ 5.98471 \end{tabular} & \begin{tabular}{r} 4.64100 \\ 6.10510 \end{tabular} & \begin{tabular}{l} 4.70973 \\ 6.22780 \end{tabular} & \begin{tabular}{l} 4.77933 \\ 6.35285 \end{tabular} & \begin{tabular}{l} 4.99338 \\ 6.74238 \end{tabular} \\ \hline 5 & \begin{tabular}{l} 5.41032 \\ 0.63298 \end{tabular} & 5.52563 & 5.63709 & \begin{tabular}{l} 5.7507 \\ 7.533 \end{tabular} & \begin{tabular}{l} 5.66660 \\ 733592 \end{tabular} & \begin{tabular}{l} 5.98471 \\ 752334 \end{tabular} & \begin{tabular}{l} 0.10510 \\ 7.71561 \end{tabular} & 7.91280 & 8.11519 & 8,75374 \\ \hline \begin{tabular}{l} 6 \\ 7 \end{tabular} & \begin{tabular}{l} 6.03298 \\ 7.89829 \end{tabular} & \begin{tabular}{l} 6.80191 \\ 3.14201 \end{tabular} & \begin{tabular}{l} 6.97532 \\ 8.39384 \end{tabular} & \begin{tabular}{l} 7.1533 \\ 8.6590 \end{tabular} & \begin{tabular}{l} 7.93592 \\ 8.92280 \end{tabular} & 920044 & 9.48717 & 978327 & 10.08901 & 11.06080 \\ \hline 8 & 9.21423 & 9.54911 & 989747 & 10.2595 & 10.03665 & 1102847 & 11.43589 & 11.85943 & 1229969 & 13.72682 \\ \hline 9 & 1058280 & 1102650 & 11,49132 & 11.9780 & 12.48756 & 1302104 & 1357948 & 14.16397 & 14.77560 & 10.78584 \\ \hline 10 & 1200011 & 1257789 & 13.18029 & 138164 & 14.48056 & 15.19293 & is,93743 & 1022201 & 12,54874 & 20.10372 \\ \hline ii. & 13.45645 & 1+20079 & 14.97164 & 15.7830 & 16.64549 & 17.56029 & 1853117 & 19.56143 & 20.05458 & 243920 \\ \hline 12 & 15.02581 & 15,91713 & 10.86994 & 17.8885 & 1897713 & 20.14072 & 21.38428 & 22.71319 & 24:13313 & 29.00167 \\ \hline \end{tabular} om (1) Read aloud Ask Bing Al 3 of 4 t \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|} \hline & 6.63298 & 6.80191 & 6.97532 & 7.15 & & 7.52334 & & 7.91286 & 11519 & 8.7 \\ \hline & 7.89829 & 8.14201 & 8,39384 & 8.6540 & 8.9228 & 9.20 & 9.48717 & & & \\ \hline 8 & 9.21423 & 9,54911 & 9.89747 & 10.2598 & 10.63663 & 11.02847 & 11.43589 & 11.85943 & 12.29969 & \\ \hline 9 & 10.58280 & 11.02656 & 11.49132 & 11.9780 & 12.48756 & 13.02104 & 13.57948 & \begin{tabular}{l} 14.16397 \\ 16.72201 \end{tabular} & \begin{tabular}{l} 14.77566 \\ 17.54874 \end{tabular} & \begin{tabular}{l} 16.78584 \\ 20.30372 \end{tabular} \\ \hline 11 & 13.48635 & \begin{tabular}{l} 12.57789 \\ 14.20679 \end{tabular} & 14.97164 & \begin{tabular}{l} 13.8164 \\ 15.7836 \end{tabular} & \begin{tabular}{l} 14.48656 \\ 16.64549 \end{tabular} & \begin{tabular}{l} 9293 \\ 66029 \end{tabular} & \begin{tabular}{l} 15.93743 \\ 18.53117 \end{tabular} & 19.56143 & 20.65458 & 24.34928 \\ \hline 12 & 15.02581 & 15.91713 & 16.86994 & 17.8885 & 18.97713 & 20.14072 & 21.38428 & 22.71 & 24. & 29. \\ \hline 13 & 16.62684 & 17.71298 & 18.88214 & 20.1406 & 21.49530 & 22.95339 & 24.52271 & 26.21164 & \begin{tabular}{l} 28.02911 \\ 32.39260 \end{tabular} & \begin{tabular}{l} 34.35192 \\ 40.50471 \end{tabular} \\ \hline \begin{tabular}{l} 14 \\ 15 \end{tabular} & 18.29191 & 19.59863 & 21.01507 & 22.5505 & 24.21492 & 26.01919 & 27.97498 & 30.09492 & \begin{tabular}{l} 32.39260 \\ 37.27972 \end{tabular} & \begin{tabular}{l} 40.50471 \\ 47.58041 \end{tabular} \\ \hline 16 & \begin{tabular}{l} 20.02359 \\ 21.82453 \end{tabular} & \begin{tabular}{l} 21.57 \\ 23.65 \end{tabular} & \begin{tabular}{l} 23.27597 \\ 25.67253 \end{tabular} & \begin{tabular}{l} 25.1290 \\ 27.8881 \end{tabular} & \begin{tabular}{l} 27.15211 \\ 30.32428 \end{tabular} & \begin{tabular}{l} 29.36092 \\ 33.00340 \end{tabular} & \begin{tabular}{l} 31.7 \\ 35.9 \end{tabular} & \begin{tabular}{l} 34.40536 \\ 39.18995 \end{tabular} & 42.75328 & \begin{tabular}{l} 47.58041 \\ 55.71747 \end{tabular} \\ \hline 17 & 23.69751 & 25.84037 & \begin{tabular}{l} 25.67253 \\ 28.21288 \end{tabular} & \begin{tabular}{l} 27.8881 \\ 30.8402 \end{tabular} & \begin{tabular}{l} 30.32428 \\ 33.75023 \end{tabular} & \begin{tabular}{l} 33.00340 \\ 36.97351 \end{tabular} & \begin{tabular}{l} 35.94973 \\ 40.54470 \end{tabular} & 44.50084 & 48.8 & \begin{tabular}{l} 55.71747 \\ 65.07509 \end{tabular} \\ \hline 19 & 25.64541 & 28.13238 & 30.90565 & 33.9990 & 37.45024 & 41.30134 & 45.59917 & 50.39593 & 55.74972 & 75.83636 \\ \hline 19 & 27.67123 & 30.53900 & 33.75999 & 37.3790 & 41,44626 & 46.01846 & 51.15909 & 56.93949 & 63.43968 & 88.21181 \\ \hline 20 & 29.77808 & 33,06595 & 36.78559 & 40.9955 & 45.76196 & 51.16012 & 57.27500 & 64.20283 & 72.05244 & 102.44358 \\ \hline \end{tabular} TABLE 3 Present Value of 1 \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|} \hline \begin{tabular}{c} (ii) \\ Periods \end{tabular} & 4% & 5% & 6% & 7% & 8% & 9% & 10% & 11% & 12% & 15% \\ \hline 1 & 96154 & 95238 & 94340 & 0.93458 & 92593 & 91743 & 90909 & 90090 & 89286 & 86957 \\ \hline 2 & 92456 & 90703 & 89000 & 0.87344 & 85734 & 84168 & 82645 & .81162 & .79719 & .75614 \\ \hline 3 & 88900 & 86384 & 83962 & 0.81630 & .79383 & .77218 & .75132 & .73119 & .71178 & .65752 \\ \hline 4 & 85480 & 82270 & .79209 & 0.76290 & .73503 & .70843 & .68301 & 65873 & 63552 & 57175 \\ \hline 5 & 82193 & .78353 & 74726 & 0.71299 & .68058 & 64993 & .62092 & 59345 & -56743 & 49718 \\ \hline 6 & 79031 & 74622 & .70496 & 0.60634 & 63017 & 59627 & 56447 & 53464 & 50663 & A3233 \\ \hline 7 & 75002 & 71068 & 06506 & 0.02275 & .58349 & 54703 & $1316 & 48166 & 45235 & 37594 \\ \hline 8 & 73009 & 67684 & .62741 & 0.58201 & 54027 & 50187 & .46651 & 43393. & 40388 & 32690 \\ \hline 9 & 70259 & .6461 & 59190 & 0.54393 & 50025 & 46043 & 42410 & 39092 & 36061 & 28426 \\ \hline 10 & 67556 & 61391 & 55839 & 0.50835 & 46319 & .42241 & 38554 & 35218 & 32197 & 24719 \\ \hline \begin{tabular}{l} 11 \\ 12 \end{tabular} & 64958 & 58468 & 52679 & 0.47509 & 42888 & 38753 & 35049 & 31728 & 28748 & 21494 \\ \hline \begin{tabular}{l} 12 \\ 13 \end{tabular} & 62460 & 35684 & 49697 & 0.4401 & 39711 & 35554 & 31863 & 28584 & 25668 & 18691 \\ \hline \begin{tabular}{l} 13 \\ 14 \end{tabular} & .00057 & 53032 & 46884 & 041496 & 36770 & 32618 & 28966 & 25751 & .22917 & \begin{tabular}{r} 16253 \\ 14133 \end{tabular} \\ \hline \begin{tabular}{l} 14 \\ 15 \end{tabular} & 57748 & 50507 & 44230 & 0.38782 & 34046 & 29925 & 26333 & 23199 & \begin{tabular}{r} 20462 \\ 18270 \end{tabular} & \begin{tabular}{l} 14133 \\ 12289 \end{tabular} \\ \hline \begin{tabular}{l} 15 \\ 16 \end{tabular} & 55526 & 48102 & 41727 & 0.36245 & 31524 & 27454 & 23939 & 20900 & \begin{tabular}{l} 18270 \\ 10312 \end{tabular} & 12289 \\ \hline \begin{tabular}{l} 16 \\ 17 \end{tabular} & 53391 & 45811 & 39365 & 033873 & 29189 & 25187 & 21763 & 18829 & \begin{tabular}{l} 16312 \\ 14564 \end{tabular} & \begin{tabular}{l} 10687 \\ 09293 \end{tabular} \\ \hline 17 & 51337 & 43630 & 37136 & 0.31657 & 27027 & -23107 & 19785 & .16963 & \begin{tabular}{l} 14564 \\ 13004 \end{tabular} & \begin{tabular}{l} 09293 \\ 08081 \end{tabular} \\ \hline \begin{tabular}{l} 18 \\ 19 \end{tabular} & 49363 & 41552 & 35034 & 029586 & 25025 & 21199 & 17986 & 15282 & \begin{tabular}{l} 13004 \\ 11611 \end{tabular} & \begin{tabular}{l} 08081 \\ 07027 \end{tabular} \\ \hline 20 & \begin{tabular}{l} 47404 \\ 45039 \end{tabular} & 39573 & \begin{tabular}{l} 33051 \\ 31180 \end{tabular} & \begin{tabular}{l} 0.27615 \\ 0.25842 \end{tabular} & \begin{tabular}{l} 23121 \\ 21455 \end{tabular} & \begin{tabular}{l} 19449 \\ 17843 \end{tabular} & \begin{tabular}{l} 16351 \\ 14864 \end{tabular} & \begin{tabular}{l} 13768 \\ 12403 \end{tabular} & \begin{tabular}{l} 1011 \\ 10362 \end{tabular} & \begin{tabular}{l} 07027 \\ 06110 \end{tabular} \\ \hline \end{tabular} \begin{tabular}{lllllllllll} 13 & .60057 & .53032 & .46884 & 0.41496 & 36770 & .32618 & .28460 & .25191 & .20462 & .14133 \\ 14 & .57748 & .50507 & .44230 & 0.38782 & .34046 & .29925 & .26333 & .23199 & .18270 & .12289 \\ 15 & .55526 & .48102 & .41727 & 0.36245 & .31524 & .27454 & .23939 & .20900 & .1068 \\ 16 & .53391 & .45811 & .39365 & 0.33873 & .29189 & .25187 & .21763 & .18829 & .16312 & .10687 \\ 17 & .51337 & .43630 & .37136 & 0.31657 & .27027 & .23107 & .19785 & .16963 & .14564 & .09293 \\ 18 & .49363 & .41552 & 35034 & 0.29586 & .25025 & .21199 & .17986 & .15282 & .13004 & .08081 \\ 19 & .47464 & 39573 & .33051 & 0.27615 & .23171 & .19449 & .16351 & .13768 & .11611 & .07027 \\ 20 & .45639 & .37689 & .31180 & 0.25842 & .21455 & .17843 & .14864 & .12403 & .10367 & .06110 \\ \hline \end{tabular} TABLE 4 Present Value of an Annuity of 1 \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|} \hline \begin{tabular}{c} (n) \\ Payments \end{tabular} & 4% & 5% & 6% & 7% & 8% & 9% & 10% & 11% & 12% & 15% \\ \hline 1 & .96154 & .95238 & 94340 & 0.93458 & .92593 & .91743 & 90909 & .90090 & .89286 & 86957 \\ \hline 2 & 1.88609 & 1.85941 & 1.83339 & & 1. & 1.75911 & 1.73554 & 1.71252 & 1.69005 & 1.62571 \\ \hline 3 & 2.77509 & 2.72325 & 7301 & 32 & 2 & 2.53130 & 2.48685 & 2.44371 & 2.40183 & 2.28323 \\ \hline 4 & 3.62990 & 3.54595 & 3,46511 & 3.38721 & 3.31213 & 3.23972 & 3.16986 & 3.10245 & 3.03735 & 2.85498 \\ \hline 5 & 4.45182 & 4.32948 & 4.21236 & 4.10020 & 3.99271 & 3.88965 & 3.79079 & 3.69590 & 3.60478 & 3.35216 \\ \hline \begin{tabular}{l} 7 \\ 8 \end{tabular} & 6.00205 & 5.78637 & 5.58238 & & 5 & 5 & 4.86842 & 4.71220 & 4.56376 & 4. 16042 \\ \hline \begin{tabular}{l} 8 \\ 9 \end{tabular} & \begin{tabular}{l} 6.73274 \\ 7.43533 \end{tabular} & 6.46321 & 6.20979 & 5.97130 & 64 & 5.53482 & 5.33493 & 5.14612 & 4.96764 & 4.48732 \\ \hline \begin{tabular}{c} 9 \\ 10 \end{tabular} & & 7.10782 & 6.80169 & 6.5 & 89 & 5.995 & 5.75902 & 5.53705 & \begin{tabular}{l} 5.32825 \\ 56502 \end{tabular} & \begin{tabular}{l} 4.77158 \\ 501877 \end{tabular} \\ \hline II & & 7.72173 & 7,3 & 7. & 8 & & 6.14457 & \begin{tabular}{l} 5.88923 \\ 6.80652 \end{tabular} & \begin{tabular}{l} 5.65022 \\ 5.03770 \end{tabular} & \begin{tabular}{l} 5.01877 \\ 5.23371 \end{tabular} \\ \hline 12 & \begin{tabular}{l} 8.76048 \\ 9.38507 \end{tabular} & \begin{tabular}{l} 8.30641 \\ 8.86325 \end{tabular} & \begin{tabular}{l} 7.88687 \\ 8.38384 \end{tabular} & & \begin{tabular}{l} 7.13896 \\ 7.53608 \end{tabular} & \begin{tabular}{l} 6.80519 \\ 7.16073 \end{tabular} & \begin{tabular}{l} 6.49506 \\ 6.81369 \end{tabular} & \begin{tabular}{l} 6.20652 \\ 6.49236 \end{tabular} & \begin{tabular}{l} 5.93770 \\ 6.19437 \end{tabular} & \begin{tabular}{l} 5.23371 \\ 5.42062 \end{tabular} \\ \hline 13 & 9.98565 & 9.39357 & 8.85268 & 8.35765 & 7.90378 & 7.48 & 7.10336 & 6.74987 & 6.42355 & 5.58315 \\ \hline 14 & 10.56312 & 9.89864 & 9.29498 & 8.7 & 824424 & 7.78615 & 7.36669 & 6.98187 & 6.62817 & 5.72448 \\ \hline 15 & 11.11839 & 10.37966 & 9.71225 & 9.10791 & 8.55948 & 8.06069 & 7.60608 & 7.19087 & 6.81086 & 5.84737 \\ \hline 16 & 11.65230 & 10.83777 & 10.10590 & 9.44665 & 8.85137 & 8.31256 & 7.82371 & 7.37916 & 6.97399 & 5.95424 \\ \hline 17 & 12.16567 & 11.27407 & 10 & & 9.12 & 8.54363 & 8.02155 & 7.54879 & 7.11963 & 6,04716 \\ \hline 18 & 12.65930 & 11.68959 & 10.82760 & 10.05 & & 8.75563 & 820141 & 7.70162 & 7.24 & 6.12797 \\ \hline 19 & 13.13394 & 12.08532 & 11.15812 & 10.33560 & 9.60 & 8.95012 & 8.36492 & 7.83929 & 7.36578 & 6.19823 \\ \hline 20 & 13.59033 & 12.46221 & 11.40992 & 1059401 & 9.81815 & 9.12855 & 8.51356 & 7.96333 & 7.46944 & 6.25933 \\ \hline \end{tabular}