Weilbacher Corporation is considering the purchase of a machine that would cost $240,000 and would last for 8 years with no salvage value. The machine would reduce labor and other costs by $72,000 per year. The company requires a minimum pretax return of 16% on all investment projects 3. The payback period for the machine is: 4. The net present value of the machine is: Net present value amount 16 % factor PV years Initial investment 240,000 1 240,000 Annual cost savings 1-8 72,000 3.274 235,728 Salvage value Net present value 0 0 0 (4,272) 5. The internal rate of return of the machine is: 6. The simple rate of return of the machine is