Water Nation is considering purchasing a water park in Atlanta, Georgia, for $2,050,000. The new faciliy will generate annual net cash inflows of $505,000 for eight years. Engineers estemade that the tacility will remain useful for eight yoars and have no residual value. Tho company usos straight-line doproclation. Its owners want paytack in loss than five years and an ARR of 12% or more. Management uses a 14\% hurde rate on invesiments of this nature. (Cick the loon to vew the presom value annuity table.) (Cick the icon to view the prosent vakue table) (Clck the icon to view the future value annuity table.) (Click the icen to view the foture value tabie) Fread the tequirements: Requirement 1, Compute the payback period, the ARR, the NPV, and the approwimate IRR of this investment, (I you use the tables to compute the IRR, aniwer wath the closest interest rate shown in the tables.) (Round the payback period to one decmal place.) The payback period (in years) is Reference Reference Reference Reterence Requirements 1. Compute the payback period, the ARR, the NPV, and the approximate IRR of this investment. (If you use the tables to compute the IRR, answer with the closest interest rate shown in the tables.) 2. Recommend whether the company should invest in this project