The Elberta Fruit Farm of Ontario always has hired transient workers to pick its annual cherry crop. Janessa Wright, the farm manager, just received Information on a cherry picking machine that is being purchased by many fruit farms. The machine is a motorized device that shakes the cherry tree, causing the cherries to fall onto plastic tarps that funnel the cherries Into bins. Ms. Wright has gathered the following Information to decide whether a cherry picker would be a profitable investment for the Elberta Fruit Farm: a. Currently, the farm is paying an average of $160,000 per year to transient workers to pick the cherries. b. The cherry picker would cost $152,000. It would be depreciated using the straight-line method and it would have no salvage value at the end of its 10-year useful life. c. Annual out-of-pocket costs associated with the cherry picker would be: cost of an operator and an assistant, $92,000; insurance, $4,000; fuel, $11,000; and a maintenance contract, $14,000. Click here to view Exhibit 13B-1 and Exhibit 138:2. to determine the appropriate discount factor using tables. Required: 1. Determine the annual savings in cash operating costs that would be realized if the cherry picker were purchased. 2. Compute the simple rate of return expected from the cherry picker. 3. Compute the payback period on the cherry picker. Complete this question by entering your answers in the tabs belon Reg 1 Req 2 Req3 Determine the annual savings in cash operating costs that would be realizei reall2CULL UN PILL 2. Compute the simple rate of return expected from the cherry picker. 3. Compute the payback period on the cherry picker. Complete this question by entering your answers in the tabs below Req 1 Reg 2 Req3 Determine the annual savings in cash operating costs that would be realize Annual savings in cash operating costs Req Complete this question by entering your answers in the tabs belon Req 1 Req 2 Req3 Compute the simple rate of return expected from the cherry picker. (Round Simple rate of retum