present value method when evaluating new projects. The company's cost of capital is $8\%.$

Click here to view the factor table.

$($a$)$

answer for Payback period to $1$ decimal place, e$.$g$.10\mathrm{.}5.$ For calculation purposes, use $5$ decimal places as displayed in the factor table provided.$)$

Cash payback period

years

Net present value

$

$($b$)$

Does the project meet the company's cash payback criteria?

Does it meet the net present value criteria for acceptance?