4. A company is considering purchasing a machine for $85,000. The machine is expected to generate a net after-tax income of $11,250 per year. Depreciation expense would be $8,500. What is the payback period for this machine? Show your work for credit. Check: Payback period is greater than 4 years but less than 5 years. (1 point)

5. A company is considering a proposal to invest $40,000 in a project that would provide the following net cash flows:

Year 1	$6,500
Year 2	12,700
Year 3	15,000
Year 4	12,800

Compute the project's payback period. Show your work for credit. Hint: Use the payback period calculation with uneven cash flows since this problem has uneven net cash flows. See example in the textbook. (1 point)

6. A company purchases a machine for $800,000. The machine has an expected life of 9 years and no salvage value. The company anticipates a yearly after-tax net income of $60,000 to be received uniformly throughout each year. What is the accounting rate of return? Show your work for credit. (1 point)