Roberts Company is considering an investment in equipment that is capable of producing more efficiently than the current technology. The outlay required is $$2,293,200.$ The equipment is expected to last five years and will have no salvage value. The expected cash flows associated with the project are as follows:

Year Cash Revenues Cash Expenses

$1$ $$2,981,160$ $$2,293,200$

$22,981,1602,293,200$

$32,981,1602,293,200$

$42,981,1602,293,200$

$52,981,1602,293,200$

The present value tables provided in Exhibit $19$B$\mathrm{.}1$ and Exhibit $19$B$\mathrm{.}2$ must be used to solve the following problems.

Required:

$1.$ Compute the project$$s payback period. If required, round your answer to two decimal places.

fill in the blank $1$

$3\mathrm{.}33$

years

$2.$ Compute the project$$s accounting rate of return. Enter your answer as a whole percentage value $($for example, $16\%$ should be entered as $"16"$ in the answer box$).$

fill in the blank $2$

$\%$

$3.$ Compute the project$$s net present value, assuming a required rate of return of $10$ percent. When required, round your answer to the nearest dollar.

$fill in the blank $3$

$4.$ Compute the project$$s internal rate of return. Enter your answers as whole percentage values $($for example, $16\%$ should be entered as $"16"$ in the answer box$).$