heridan Company is considering a capital investment of $369,600 in additional productive facilities. The new machinery is expected to have a useful life of 6 years with no salvage value. Depreciation is by the straight-line method. During the life of the investment, annual net income and net annual cash flows are expected to be $18,480 and $84,000, respectively. Sheridan has an 9% cost of capital rate, which is the required rate of return on the investment. (a1) Compute the cash payback period. (Round answer to 2 decimal places, e.g. 2.25.) Cash payback period years eTextbook and Media Attempts: 1 of 5 used (a2) Compute the annual rate of return on the proposed capital expenditure. (Round answer to 2 decimal places, e.g. 2.25%.) Annual rate of return % Using the discounted cash flow technique, compute the net present value. (Round present value factor colculations to 5 decimal places, e.g. 1.25124 and the final answer to 2 decimal places e.g. 589.71.) Net present value $