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Oriole Corporation is considering purchasing a new delivery truck. The truck has many advantages over the company's current truck (not the least of which is that it runs). The new truck would cost \$57,104. Because of the increased capacity, reduced maintenance costs, and increased fuel econorriy, the new truck is expected to generate cost savings of $8,600. At the end of eight years, the company will seli the truck for an estimated \$27,900. Traditionally, the company has used a general rule that it should not accept a proposal unless it has a payback period that is less than 50% of the asset's estimated useful life. Mark Martin, a new manager, has suggested that the company should not rely only on ' We payback approach but should also use the net present value method when evaluating new projects. The company's cost of capitili is B\%. (a) Caiculate the cash payback period and net present value of the proposed investment. (If the net present value is neyuthe, vie either a nrgotive sian preceding the number eg. -45 or parentheses eg. (45). Round cash payback period to 2 decimal place, es. 12.51. For calculation purposes, use 5 decimal places as displayed in the factor table provided, ez. 1.25124 and net present value to 0 decimal places. e. 5,275 . Click twere to view the factor table