X wants to replace old machine by new one. Old is fully depreciated and no salvage value is expected.

New will provide annual cash saving by 7.000 TRL before income taxes and without regard to the effect of depreciation.

Machine (new) costs 18.000 TRL, estimated useful life is 5 years. No salvage value will be for the new one.

Straight line depreciation method will be used. Income tax is %40. Desired rate of return is %14.

Please evaluate this investment in terms of NPV, IRR and Payback period methods.