Roberts Company is considering an investment in equipment that is capable of producing more efficiently than the current technology. The outlay required is $2,233,333.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:

YearCash RevenuesCash Expenses

1 $2,950,000 $2,280,000

2 2,950,000 2280,000

3 2,950,000 2,280,000

4 2,950,000 2,280,000

5 2,950,000 2,280,000

The present value tables provided inExhibit 19B.1andExhibit 19B.2must be used to solve the following problems.

Required:

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

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).

.............%

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.

$..............

4.Compute the project's internal rate of return. Enter your answers as whole percentage values.

Between............% and.............%