Longneck Company is considering a capital investment in machinery

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$8.$ Calculate the payback

$9.$ Calculate the ARR. Round the percentage to two decimal places.

$10.$ Based on your answers to the above questions, should Longneck invest in the machinery?

$(2)$

$q,$

$8.$ Calculate the payback

$ $700,000$ $ $175,0004$ years

$9.$ Calculate the ARR. Round the percentage to two decimal places

Data table

$\backslash$table$[[$Initial investment,$700,000],[$Residual value,$20,000],[$Expected annual net cash inflows,$175,000],[$Expected useful life,$5$ years$],[$Required rate of return,$15\%$