the increased capacity,reduced maintenance costs. and increased fuel economy. the new truck is expected to generate cast savings of $7.700. At the end of 8 years. the compnan $56.980. Becure will sell the truck for an estimated $27,600. Traditionally the company has used a rule of thumb that a proposal should not be accepted unless it has a payback period that is less than 50% of the asset's estimated useful life. Larry Newton, a new manager, has suggested that the company should not rely solely on the payback approach, but should also employ the net present value method when evaluating new projects. The company's cost of capital is 8%. Click here to view PV table. (a) Compute the cash payback period and net present value of the proposed investment. (If the net present value is negative, use either a negative sign preceding the number eg -45 or parentheses eg (45). Round answer for present value to decimal places as displayed in the factor table provided.) decimal places, e.g. 125. Round answer for Payback period to 1 decimal place, e.g. 10.5. For calculation purposes, use 5 Cash payback period years Net present value () Does the project meet the company's cash payback criteria? Does it meet the net present value criteria for acceptance