Water Nation is considering purchasing a water park in Fort Worth, Texas, for $1,900,000. The new facility will generate annual net cash inflows of $490,000 for eight years Engineers estimate that the facility will remain useful for eight years and have no residual value. The company uses straight-line depreciation. Its owners want payback in less than five years and an ARR of 12% or more. Management uses a 10% hurdle rate on investments of this nature. (Click the icon to view the present value annuity table.) (Click the icon to view the future value annuity table.) Read the requirements Requirements (Click the icon to view the present value fable.) (Click the icon to view the future value table.) - X 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 tment (If you use the tables to compute the al place)