The capital investment committee of Ellis Transport and Storage Inc. is considering an investment project. The estimated income from operations and net cash flows from the investment are as follows: Year Income from Operations Net Cash Flow 1 $61,400 $ 135,000 2 51,400 125,000 3 36,400 110,000 4 26,400 100,000 5 (3,600) 70,000 Total $172,000 $540,000 The project requires an initial investment of $368,000. The committee has selected a rate of 15% for purposes of the net present value analysis. Required, calculate for above investment: (a) Normal payback period (b) Accrual accounting rate of return (c) NPV