Vaughn was presented with a second capital investment that provided similar production facilities as the first one. This investment cost \( \$ 395,000 \), had a useful life of 7 years with a salvage value of \( \$ 16,000 \). Depreciation is by the straight-line method. During the life of the investment, annual net income and net annual cash flows are expected to be \( \$ 23,838 \) and \( \$ 79,000 \) respectively. Vaughn's \( 7 \% \) cost of capital is also the required rate of return on the investment. Compute the cash payback period. (Round answer to 0 decimal places, e.s. 25.) Cash payback period yearsUsing the discounted cash flow technique, compute the net present value.