Payback, Accounting Rate of Return, Net Present Value, Internal Rate of Return

Woodard Company wants to buy a numerically controlled $($NC$)$ machine to be used in producing specially machined parts for manufacturers of trenching machines. The outlay required is $$700,000.$ The NC equipment will last five years with no expected salvage value. The expected after$-$tax cash flows associated with the project follow:

$\backslash$table$[[$Year$,$Cash Revenues,Cash Expenses$],[1,$$$1,600,000,$$$1,300,000$