s an expected life of eight ye forchased, the new equipment would replace manually operated equipment. Data relating to the existing and replacement mixing equipment follow.

Note: Round your answer to the nearest whole dollar.

$(2)$ Compute the profitability index of investing in the new equipment ignoring taxes

Note: Round your answer to one decimal place $($i$.$e$.$ round $4\mathrm{.}3555$ to $4\mathrm{.}4).$

b$.$ Should Pete's Paving purchase the machine based on your answers to part $($a$)?$

c$.$ Compute the payback period for the investment in the new equipment. $($Ignore taxes.$)$

Note: Round your answer to one decimal place $($i$.$e$.$ round $4\mathrm{.}3555$ to $4\mathrm{.}4).$

years

d$.$ Rounding to the nearest whole percentage, compute the internal rate of return for the equipment investment.