need help solving problem. can you use the same format.

Problem 24-1A Computation of payback period, accounting rate of return, and net present value LO P1, P2, P3 Factor Company is planning to add a new product to its line. To manufacture this product, the company needs to buy a new machine at a $519,000 cost with an expected four-year life and a $15,000 salvage value. All sales are for cash, and all costs are out-of-pocket, except for depreciation on the new machine Additional information includes the following. (FV of $1, PV of $1, FVA of $1 and PVA of $1) (Use appropriate factor(s) from the tables provided.) Expected annual sales of new product Expected annual costs of new product $1,860,000 pute Direct materials Direct labor 465.000 675,000 Overhead (excluding straight-line depreciation on new machine) 338,000 Selling and administrative expenses Income taxes 165,000 32% Required 1. Compute straight-line depreciation for each year of this new machine's life