PART 2 -Capital Investment Decision (25 marks) rwin Batting Company is considering purchasing two different types of new cutting machines Machine A will generate cash inflows of $26,000 per year and have no residual value. Machine A's useful life is three years and will cost Haney $44,000. Machine B will generate net cash inflows of $28,000 in year 1, $11,000 in year 2, and $5,000 in year 3. Machine B has a $5,000 residual value and an estimated life of three years. Machine B will also cost Irwin $44,000. Haney's required rate of return is 14%. Complete the following requirements using the above information. Requirements: . #1-Calculate payback, ARR, NPV and IRR for both new machine investments. #2-which machine should inin invest in? Discuss advantages and disadvantages of each method in #1, compare your results for each investment and clearly indicate your recommendation to Irwin. Opportunity with this part to show your creativity! Submission Format (10 marks for professionalism, presentation and creativity)