Requirement 1. Compuse the paytack, the ARR, the NPV, and the profitability index of these to options. Compusa the payback for both options. Begin by completing the payback schedule for Option 1 (refurbish). Requirements 1. Compute the payback, the ARR, the NPV, and the profitability index of these two options. 2. Which option should Gammon choose? Why? The company is considering two options. Option 1 is to refurbish the current machine at a cost of $700,000. If refurbished, Hazen expects the machine to last another eight years and then have no residual value. Option 2 is to replace the machine at a cost of $2,200,000. A new machine would last 10 years and have no residual value. Requirement 1. Compuse the paytack, the ARR, the NPV, and the profitability index of these to options. Compusa the payback for both options. Begin by completing the payback schedule for Option 1 (refurbish). Requirements 1. Compute the payback, the ARR, the NPV, and the profitability index of these two options. 2. Which option should Gammon choose? Why? The company is considering two options. Option 1 is to refurbish the current machine at a cost of $700,000. If refurbished, Hazen expects the machine to last another eight years and then have no residual value. Option 2 is to replace the machine at a cost of $2,200,000. A new machine would last 10 years and have no residual value