Payback, Accounting Rate of Return, Net Present Value, Internal Rate of Return Follow the format shown in EXHIBIT 14A.1 and EXHIBIT 14A.2 as you complete the requirements below. Peters Company wants to buy a new machine costing $340,000. The equipment will last five years with no expected salvage value. The expected after-tax cash flows associated with the project follow: Year Cash Revenues $1,150,000 Cash Expenses $750,000 1 2 750,000 3 1,150,000 1,150,000 1,150,000 1,150,000 750,000 750,000 4 5 750,000 Required: 1. Compute the payback period for the equipment. Round your answer to two decimal places. years 2. Compute the equipment's ARR. Round your answer to one decimal place. 6 3. Compute the investment's NPV, assuming a required rate of return of 9 percent. Round present value calculations and your final answer to the nearest dollar. s 4. Compute the investment's IRR