Vilas Company is considering a capital investment of $216,000 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 $18,468 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, c.8. 10.5.) Cash payback period 4 years Compute the annual rate of return on the proposed capital dependiture. (Round answer to 2 decimal places, eg. 10.52%) A al rate of return 86% (b) Using the discounted cash flow technique, compute the net present value. (if the net present value is negative, use either a negative sin preceding the number 4.3.45 or parentheses es. (45). Round answer for present value to 0 decimal places, e.g. 125. For calculation purposes, use 5 decimal places as displayed in the factor table provided) Net present value 53,7840