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Factor Company is planning to add a new product to its line. To manufacture this product, the company needs to buy a new machine at a $511,000 cost with an expected four-year life and a $20,000 salvage value Additional annual information for this new product line follows. (PV of $1. FV of $1. PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.) Sales of new product $ 1,910,000 Expenses Materials, labor, and overhead (except depreciation) 1,498,000 Depreciation-Machinery 122,750 Selling, general, and administrative expenses 163,000 Required: 1. Determine income and net cash flow for each year of this machine's life. 2. Compute this machine's payback period, assuming that cash flows occur evenly throughout each year. 3. Compute net present value for this machine using a discount rate of 8%. Determine income and net cash flow for each year of this machine's life. Income Cash Flow $ 1,910,000 Annual amounts Sales of new product Expenses Materials, labor, and overhead (except depreciation) Depreciation Machinery Selling, general, and administrative expenses 1,498,000 122,750 163,000 126,250 Income $ Net cash flow $ Required 1 Required 2 > Compute this machine's payback period, assuming that cash flows occur evenly throughout each year. Numerator: Payback Period Denominator: 1 Payback Period 0 Compute net present value for this machine using a discount rate of 8%. (Do not round intermediate calculations. Negative amounts should be entered with a minus sign. Round your present value factor to 4 decimals and final answers to the nearest whole dollar.) Net Cash Flows Present Value at 8% Present Value of Net Cash Flows $ 0 Years 1-4 Salvage value, year 4 Total 0 ## Net present value