Question 12 of 15 -/0.5 E a View Policies Current Attempt in Progress Cullumber Inc. wants to purchase a new machine for $44,300, excluding $ 1.500 of installation costs. The old machine was purchased 5 years ago ar and had d an expected economic life of 10 years with no salvage value. The old machine has a book value of $ 2200, and Cullumber Inc expects to sell it for that amount. The new machine will decrease operating costs by $ 10,000 each year of its economic life. The straight-line depreciation method will be used for the new machine for a 6-year period with no salvage value. Click here to view the factor table fa) Determine the cash payback period. (Round cash payback period to 2 decimal places, es. 10.53.) Cash payback period years () Determine the approximate Internal rate of return (Round answer to O decimal places, es 13%. For calculation purposes, use 5 decimal places as displayed in the factor table provided) Internal rate of return Assuming the company has a required rate of return of 8%, determine whether the new machine should be purchased. a The investment be accepted eTextbook and Media Submit Answer Save For Later Attempts: 0 of 3 used