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13 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 $519,000 cost with an expected fouryear life and a $19,000 salvage value. All sales are for cash, and all costs are outofpocket, except for depreciation on the new machine. Additional information includes the following. [PV of $1, FV of $1, PVA of $1, and FVA of 5 _$_1) (Use appropriate factor(s} from the tables provided.) points Expected annual sales of new product $1,950,388 EBDOK Expected annual costs of new product Direct materials 475,388 Print Direct labor 570,666 Overhead (excluding straight-line depreciation on new machine) 337,686 Selling and administrative expenses 153,889 Income taxes 32% Required: 1. Compute straighteline depreciation for each year of this new machine's life. 2. Determine expected net income and net cash ow for each year of this machine's life. 3. Compute this machine's payback period, assuming that cash flows occur evenly throughout each year. 4. Compute this machine's accounting rate of return, assuming that income is earned evenly throughout each year. 5. Compute the net present value for this machine using a discount rate of 7% and assuming that cash flows occur at each yearend. (Hint Salvage value is a cash inow at the end of the asset's life.)