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Problem Two PAYBACK, ACCOUNTING RATE OF RETURN, NET PRESENT VALUE, INTERNAL RATE OF RETURN Ripit Company wants to buy a numerically controlled (NC) machine to be used in producing specially machined parts for manufacturers of tractors The outlay required is $480,000. The NC equipment will last five years with no expected salvage value. The expected after-tax cash flows associated with the project follow: Year Cash Revenues Cash Expenses UI A WN - $780,000 $600,000 780,000, 600,000 600,000 280 090 600,000 600,000 Required: 1. Compute the payback period for the NC equipment. 2. Compute the NC equipment's ARR. 3. Compute the investment's NPV, assuming a required rate of return of 10 percent. 4. Compute the investment's IRR