Problem 5 Swaggerty Corporation is considering purchasing a machine that would cost $462,000 and have a useful life of 7 years. The machine would reduce cash operating costs by $115,500 per year. The machine would have no salvage value. Swaggerty Corporation accepts projects with a payback of 5 years or less. Required: Compute the payback period for the machine. Should the project be accepted? 1,437 words C