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Riverbed Growth Farms, a farming cooperative, is considering purchasing a tractor for $563,270. The machine has a 10-year life and an estimated salvage value of

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Riverbed Growth Farms, a farming cooperative, is considering purchasing a tractor for $563,270. The machine has a 10-year life and an estimated salvage value of $50,000. Delivery costs and set-up charges will be $13,500 and $430, respectively. Riverbed Growth uses straight-line depreciation and has a required rate of return of 9%. Riverbed Growth estimates that the tractor will be used five times a week with the average charge to the individual farmers of $430. Fuel is $60 for each use of the tractor. The present value of an annuity of 1 for 10 years at 9% is 6.41766 . Click here to view PV tables. For the new tractor, compute the: Cach payback period. (Raund answer to 1 decimal ploces, es. 15.2.) Cash parback period years e Textbook and Media Aktempts: 1 of 3 used (b) 6. Your anwwer is incorrect Net present value. (Reund factor values to 5 decimal places, e. 15, 11212. Round Intermediate calculations and final answer te 0 decimal places, es. 5,275.) Net present value \$

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