the zone company is considering the purchase of a new machine at cost of 1040,000 the machine

The Zone Company is considering the purchase of a new machine at a cost of S The machine is expected to improve productivity and thereby increase cash in $250,000 per year for 7 years. It will have no salvage value. The company requires minimum rate of return of 12 percent on this type of capital investment. (Ignore inco for this problem.) Required: 1. Determine the net present value (NPV) of the investment proposal.(The PV annuity for 12%, 7 years is 4.564.) 2. What is the estimated payback period for the proposed investment, under the assumpti that cash inflows occur evenly throughout the year? Round your answer to 2 decimal place