Swifty Corporatica is considering purchasing a new delivery truck. The truck has many advantages over the company s current truck (not the least of which is that it runs). The new truck would cost 555,500 . Because of the increased capacity, reduced mainterance costs, and increased fuel economy, the new truck is cepected to genenate cost savings of 57.400. At the end of 8 years. the company Will sell the truck for an estimated 527,700 . Traditionally the company fas used a rule of thumb that a proposai should not be accepted unless it has a payback period that is less than 50% of the assets estimated useful life Larry Newion, a new manager, has suggested that the company ahould not rely solely on the payback approach, but should also employ the net presenit value method when evaluating rew projects. The company's cost ot capital is 8%. Cick here to view PV table. (a) Compute the cash payback period and net present value of the proposed investment. of the net present value is ngyative, use either a negotive sign preceding the number eg 45 or perentheses es (45). Round ynswer for present value to 0 decinal ploces, es. 125 , Round answer for Paybock period to 1 decimal place, es. 10.5. For calculation purposes, use 5 decimal ploces as disployed in the foctor table provided) Cashpayback period Net prevent value (b) Does the project meet the companys cash paybuck criteria