The Dohickie Company is considering an investment in equipment. The following information is available: Cost $300,000 ($200,000 down, $50,000 end of first year and starting at the end of the fourth year, $10,000 per year until completely paid) Economic Life-10 years Annual Profit from Investment Years 1-5 $50,000/per year Years 6-10 $30,000/per year Salvage Value $1,000 Repair Required at End of Year 8-$2,000 No Need for Old Machine if Purchasing New One. Cost $300,000 Accum. Depreciation $280,000 Sales Price $25,000 Gain on Sale $5,000 Required Rate of Return 8% REQUIRED: Using Net Present Value Method, show calculations to determine if investment should be made. What is the Payback Period