Myrna's Gardening is considering the purchase of new lawn equipment. A supplier has offered a package that will replace Myrna's current equipment. The package price is $30,000. Myrna believes the equipment will make her more efficient, and therefore it will increase her annual net cashflow by $5,000. The equipment will have a 9-year useful life and have no salvage value. Myrna's cost of capital is 8%. Instructions a) Calculate the cash payback period. b) Calculate the machine's annual rate of return. c) Calculate the machine's net present value using a discount rate of 8%. d) Is the investment acceptable? Why or why not?