Mandel Manufacturing, Inc. has a manufacturing machine that needs attention.

$(2)($Click the icon to view additional information.$)$ Mandel expects the following net cash inflows from the two options:

$($Click the icon to view the net cash flows.$)$

Mandel uses straight$-$line depreciation and requires an annual return of $12\%.$

E$)($Click the icon to view Present Value of $$1$ table.$)$

$.($Click the icon to view Present Value of Ordinary Annuity of $$1$ table.$)$

$($Click the icon to view Future Value of $$1$ table.$)$

E$)($Click the icon to view Future Value of Ordinary Annuity of $$1$ table.$)$

Read the requirements.

Requirement $1.$ Compute the payback, the ARR, the NPV$,$ and the profitability index of these two options.

Compute the payback for both options. Begin by completing the payback schedule for Option $1($refurbish$).$

$\backslash$table$[[$Year$,$Net Cash Outflows,Net Cash Inflows$],[$Amount Invested,Annual,Accumulated$]]$

Data table

$\backslash$table$[[$Year$,\backslash$table$[[$Refurbish Current$],[$Machine$]],\backslash$table$[[$Purchase New$],[$Machine$]]],[$Year $1,1,310,000s,3,540,000$