Required (Go to www.sec.gov and use the most recent 10-K report filed by Hershey Co. on Feb. 17, 2021 for fiscal year-ended Dec. 31, 2020):

1. Review applicable notes to Hershey Co.'s Consolidated Financial Statements related to accounting for fixed assets. Then, 1) Identify the primary depreciation method along with the range of useful lives used for depreciation, and 2) Identify what types of assets they include as fixed assets and the useful life used for each type of asset.

2. Hershey Co.'s 2020 (FYE 12/31/20) Consolidated Financial Statements reveal a $441,626,000 cash outflow for investments in fixed assets (capital additions). Assume the average useful life is five years and Hershey Co.'s minimum required rate of return is 10% for these investments. Calculate the minimum average annual net cash inflow necessary for these investments to be acceptable.

3. Using the average annual net cash inflows calculated in requirement 2 and the $441,626,000 cash outflow for investments, determine the payback period.

4. How does the average payback period in requirement 3 compare to useful lives of different types of fixed assets identified in requirement 1? How might Hershey Co. use this information?