Kansas Corporation is reviewing an investment proposal that has an initial cost of $78,000. An estimate of the investment's end-of-year book value, the yearly after-tax net cash inflows, and the yearly net income are presented in the schedule below. Yearly after-tax net cash inflows include savings from the depreciation tax shield. The investment's salvage value at the end of each year is equal to book value, and there will be no salvage value at the end of the investment's life. Initial Cost and Yearly After-Tax Net Yearly Net ook Value cash Inflows Year Income $ 28,500 26,000 23,500 21,000 $43,500 $11,000 1 2 29,500 12,000 3 19,000 13,000 4 12,000 14,000 18,500 0 15,000 $117,500 $65,000 Kansas uses a 12% after-tax target rate of return for new investment proposals. FV of an ordinary PV of an ordinary FV of $1 at PV of $1 at annuity at 12% annuity at 12% Year 12% 12% 1 1.120 1.000 0.893 0.893 1.690 2 1.254 2.120 0.797 3 1.405 3.374 0.712 2.402 1.574 4 4.779 0.636 3.037 3.605 5 1.762 6.353 0.567 0.507 6 1.974 8.115 4.111 Required: A. Calculate the project's payback period. (Do not round intermediate calculations.) B. Calculate the accounting rate of return on the initial investment. (Do not round intermediate calculations. Round your answer to 1 decimal place.) C. Calculate the proposal's net present value. Round to the nearest dollar. (Do not round intermediate calculations. Round your final answer to nearest dollar amount.) A. Project's payback period years B. Rate of return % C. Net present value