Latham Tools is considering purchasing a completely computerized production equipment to replace its existing labor $-$intensive equipment $.$ The existing equipment has a net book value of $$600,000$ a remaining useful life of $4$ years $,$ and a zero salvage value at that time $.$ If the equipment is sold today $,$ management believes they would receive $$75,000.$ The new equipment is expected to improve quality be more efficient and reduce annual operating costs by $$320,000$ for each of the next four years $.$ The acquisition cost of the equipment is $ $1,260,000.$ The equipment is expected to have a zero salvage value after its $4$ year expected life $.$ The company uses the straight $-$line method of deprecation for its equipment $.$ Management has determined that the required rate of return for projects of this risk is $8\%($minimum accounting return is also $8\%)$ and that the maximum payback period is $3$ years $.$ Assume a tax rate of $40\%1.$ Analyze the project using each of the following quantitative approaches : net present value payback period $,$ accrual accounting rate of return and discounted payback period $.2.$ Based solely on quantitative factors $,$ should Latham undertake this project $?$ Why or why not $?$ What qualitative factors should Latham consider in making this decision $?$