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BSU Inc. wants to buy a new machine for $29,300 plus $1,500 for installation costs. OLD machine was purchased 5 years ago (useful life of 10 years, no salvage value). The old machine will be sold which will result in a 2,000 loss on the sale. NEW machine will decrease operating costs by $7,000 each year of its useful life. The straight-line depreciation will be used for the new machine for a 6-year period with no salvage value. Instructions (a) Determine the cash payback period. (b) Determine the approximate internal rate of return. (c) Assuming a required rate of return of 10%, should the new machine be purchased? (a) (What amount + or - what amounts) (answer) Total "net investment Annual net cash flow Payback period (* "net" means after you add and or subtract pertinent amounts) (b) Present Value Net annual cash flows Less capital investment Net present value (c) your decision ... AND WHY