Winett Corporation is considering an investme special-purpose equipment to enable the company to obtain a six-year municipal contract. The equipment costs $1,320,000 and would have no salvage value when the contract expires at the end of six years. Estimated annual operating results of the project are as follows. salvage value when the contract expires at the end of six years. Estimated annual operating results of the project are as follows. I contract sales $920,000 er than depreciation (straight-line basis) et income from contract work $600,000 220,000 820,000 $100,000 a. Payback period. b. Return on average investment. c. Net present value of the proposal to undertake contract work, discounted at an annual rate of 10 percent. (Refer to the annuity table in