correct the table

Factor Company is planning to add a new product to its line. To manufacture this product, the company needs to buy a new machine at a $491,000 cost with an expected four-year life and a $20,000 salvage value. Additional annual information for this new product line follows. (PV of $1, FV of $1, PVA of $1, and FVA of $1) Note: Use appropriate factor(s) from the tables provided. Sales of new product $ 1,930,000 Expenses Materials, labor, and overhead (except depreciation) 1,462,000 DepreciationMachinery 117,750 Selling, general, and administrative expenses 143,000 Required: 1. Determine income and net cash flow for each year of this machine's life. 2. Compute this machine's payback period, assuming that cash flows occur evenly throughout each year. 3. Compute net present value for this machine using a discount rate of 7%. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute this machine's payback period, assuming that cash flows occur evenly throughout each year. = Payback Period Initial investment Annual net cash flow $ 491,000 $ 334,000 = 1.47 |years Factor Company is planning to add a new product to its line. To manufacture this product, the company needs to buy a new machine at a $491,000 cost with an expected four-year life and a $20,000 salvage value. Additional annual information for this new product line follows. (PV of $1, FV of $1, PVA of $1, and FVA of $1) Note: Use appropriate factor(s) from the tables provided. Sales of new product $ 1,930,000 Expenses Materials, labor, and overhead (except depreciation) 1,462,000 117,750 Depreciation-Machinery Selling, general, and administrative expenses 143,000 Required: 1. Determine income and net cash flow for each year of this machine's life. 2. Compute this machine's payback period, assuming that cash flows occur evenly throughout each year. 3. Compute net present value for this machine using a discount rate of 7%. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute net present value for this machine using a discount rate of 7%. Note: Do not round intermediate calculations. Negative amounts should be entered with a minus sign. Round your present value factor to 4 decimals and final answers to the nearest whole dollar. Years 1-4 $ 334,000 n 33872|=| $ 1,131,325 Salvage value, year 4 $ 20,000] x | 0.7629| = 15,258 Total = 1,146,583 nitial investment = Net present value =