Henley Company is considering a capital investment of $600,000 in new equipment it is expected to have a useful life of 10 years with no salvage value. Depreciation is computed by the straight-line method. During the life of the investment, annual net income and net cash flows are expected to be $52, 500 and $112, 500, respectively. Henley requires either a 15% rate of return, or a payback period of 6 years. Instructions: Compute the (a) annual rate of return, (b) cash payback period, (c) net present value of the total project, (d) profitability index, and (e) internal rate of return. Show all computations. State whether the project should be accepted or rejected for each of the five capital budgeting techniques. Annual Rate of Return = Cash Payback Period = Net Present Value = Profitability Index = Internal Rate of Return =