The following information applies to the questions displayed below.) Yonkay Specialty Metals Corporation is reviewing an Investment proposal. The initial cost as well as the estimate of the book value of the investment at the end of each year, the ner after-tax cash flows for each year, and the net income for each year are presented in the following schedule. The salvage value of the investment at the end of each year is equal to its book value. There would be no salvage value at the end of the investment's life. Year Annual Net After-Tax Cash Flows Annual Net Income Initial Cost and Book Value $270,000 180,000 108.000 54,000 18.000 $132,000 116.000 100.000 84.000 68,000 $42.000 44,000 46,000 48,000 50,000 Management uses o 14 percent after-tax target rate of return for new investment proposals Use Appendix A for your reference. (Use appropriate factors from the tables provided) 6. value 0.50 points Required: 1. Compute the project's payback period. Assume that the cash flows in years 1 through 5 occur uniformly throughout each year (Round your answer to 2 decimal places.) Payback period years References Type here to search eBook & Resources O and accounting-rate- capital investment pro Check my work value 0.50 points 3. Compute the proposal's net present value. Net present value References eBook & Resources Exercise Leaming Objective: 16-01 Use method and the internal-rate-of- evaluate an investment proposa I Difficulty: Medium Leaming Objective: 16-08 Use the and accounting-rate-of-retum me capital investment projects. Check my work O Type here to search