Please help me with number 2 and please show all calculations. Thank you.

PROBLEM SETB Cortino Company is planning to add a new product to its line. To manufacture thi needs to buy a new machine at a $300,000 cost with an expected four-year life and a $20,000 salvage value. All sales are for cash and all costs are out-of-pocket, except for depreciation on the new machine. Additional information includes the following Computation of payback period rate of return, and net present value P1 P2 P3 Expected annual sales of new product... Expected annual costs of new product .$1,150,000 Direct materials.. 300,000 Income taxes 30%