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Exercise 24-1 Linkin Corporation is considering purchasing a new delivery truck. The truck has many advantages over the company's current truck (not the least of which is that it runs). The new truck would cost $55,800. Because of the increased capacity, reduced maintenance costs, and increased fuel economy, the new truck is expected to generate cost savings of $7,A0O. At the end of 8 years the company asset's estimated useful life. Larry Newton, a new manager, has suggested that the company should not rely solely on the payback approach, but shoule also employ the net present velue method when evaluating new propects. The company's cost of capita. 8% Click here to view PV table. Compute the cash payback period and net present value of the proposed investment.Y the net present value is negative, use elther a megative sign preceding the nmber eg-45 or parentheses eg 45). Round answer for present value to O deci al places, eg. 125 Round answer for Payback period to i d cinal place, 10s. Por ca ul tion purposes, use S declmal places as displayed in the factor table previded.) Cash payback period years Net present value Does the project meet the company's cash payback cniterna Does it meet the net present value criteria for acceptance EXERCESE Questien Attempts: 0 of 5 used SAVE FOR LATER SURHIEE ASENES