Whipple Company wants to buy a numerically controlled (NC) machine to be used in producing specially machined parts for manufacturers of tractors. The outlay required is $480,000. The NC equipment will last five years with no expected salvage value. The expected after-tax cash flows associated with the project follow: Year 1 Cash Revenues Cash Expenses 1 $780,000 $600,000 2 780,000 600,000 3 780,000 600,000 4 780,000 600,000 5 780,000 600,000 1. Compute the payback period for the NC equipment. 2. Compute the NC equipment's ARR 3. Compute the investments NPV, assuming a required rate of return of 10 percent 4. Compute the investments IRR