Option 2: The asset cost is $424,000. The machine is expected to have an 8-year useful life with no salvage value. Straight-line depreciation is used. The net cash inflow is expected to be $120,000 each year for 8 years. The company uses a 12% discount rate in evaluating capital investments. This asset is the smallest and most efficient in its product line. The delivery time for this asset is 6 weeks. REQUIRED You may use Excel's built-in functions for NPV and IRR. Compute the following for the above-referenced investment options: 1.Payback period/method (assume cash inflows occur evenly throughout the year) 2.Unadjusted rate of return (or simple rate of return) 3.NPV (assume that cash inflows occur at year-end) 4.Internal rate of return (IRR) 5. Present Value Index Option 2: The asset cost is $424,000. The machine is expected to have an 8-year useful life with no salvage value. Straight-line depreciation is used. The net cash inflow is expected to be $120,000 each year for 8 years. The company uses a 12% discount rate in evaluating capital investments. This asset is the smallest and most efficient in its product line. The delivery time for this asset is 6 weeks. REQUIRED You may use Excel's built-in functions for NPV and IRR. Compute the following for the above-referenced investment options: 1.Payback period/method (assume cash inflows occur evenly throughout the year) 2.Unadjusted rate of return (or simple rate of return) 3.NPV (assume that cash inflows occur at year-end) 4.Internal rate of return (IRR) 5. Present Value Index