answer the question

21.26 LOILCS 21.7 Payback period; net present value; even cash flows: bank The management of Ballarat National Bank is considering an investment in automatic teller machines. The machines would cost $513 000 each and have a useful life of seven years. The bank's finance manager has estimated that the automatic teller machines will save the bank $110 000 per machine during each year of their life. The machines will have no salvage value. Ignore company income taxes. Required: ,_ 1 Calculate the payback period For the proposed investment. 2 Calculate the net present value of the proposed investment. assuming a discount rate of: (a) 8 per cent. {b} 10 per cent. _ (9).): per cent: - 3 What can you conclude 'From Your answers to requirements 1 and labout the limitations of the payback method