you are the CFO of XYZ Co. that prints textbook using an outdated system. the owner provides you with the following information about a new super modification project "Alpha" that will last for 7 years. the project requires a new machine that costs $100,000 today. the projcet will not generate any cash flow at time 1. in years 2 and 3, the annual cash flows is $25,000. in years 4 and 5 the annual cash flow is $30,000, in year 6 it is -$10,000, and in year 7 it is $60,000. the required rate of return is 6 percent. provide numerical support for credit.

What is the payback period for this project? will you accept the project if the benchmark payback period is 4 years and 7 months?