Sheffield Doggy, Inc. produces and sells corn dogs. The corn dogs are dipped by hand. Austin Beagle, production manager, is considering purchasing a machine that will make the corn dogs. Austin has shopped for machines and found that the machine he wants will cost $$317,500.$ In addition, Austin estimates that the new machine will increase the company's annual net cash flows by $$48,900.$ The machine will have a $12-$year useful life and no salvage value.

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$($a$)$

Your answer is correct.

Calculate the cash payback period. $($Round answer to $2$ decimal places, e$.$g$.15\mathrm{.}21.)$

Cash payback period years

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$($b$)$

Your answer is correct.

Calculate the machine's internal rate of return.

Internal rate of return

$\%$

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$($c$)$

Your answer is incorrect.

Calculate the machine's net present value using a discount rate of $10\%.($Use the above table.$)($Round factor values to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answer to $0$ decimal places, e$.$g$.5,275.)$

Net present value $

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