Vilas Company is considering a capital investment of $193,500 in additional productive facilities. The new machinery is expected to have a useful life of 5 years with no salvage value. 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 $12.771 and $45.000, respectively. Vilas has a 12% cost of capital rate, which is the required rate of return on the investment Click here to view the factor table. (a) Compute the cash payback period. Round answer to 1 decimal place, s. 10.5) Cash payback period years Compute the annual rate of return on the proposed capital expenditure (Round answer to 2 decimal places es 10.52%) Annual rate of return (b) Using the discounted cash flow technique, compute the net present value. (If the net present value is negative, use either a negative sign preceding the number es. present value to 0 decimal places, eg. 125. For calculation purposes, use 5 decimal places as displayed in the factor table provided.) Net present value