PB Corporation is considering a new project that would require an investment of $513,600 and would last 10 years. The cash revenues and expenses generated by the project each year are as follows: Sales $315,000 revenue Variable $155,000 expenses Fixed $53,000 expenses The salvage value of the project's assets at the end of its life is $43,000 and depreciation expense each year will be $40,000. What is the project's payback period? (Round your answer to two decimal places.) 7.67 years 5.29 years O 3.21 years 0 4.80 years None of the above Shriver Corporation is considering the purchase of a new capital asset with a useful life of 20 years. Based on cash flow projections, the investment has an internal rate of return of 15% and a payback period of 10 years. All else constant, how would an increase in the expected salvage value from this project in 20 years affect the following for this project? Net Present Value Payback Period Choice A Increase Increase Choice B. No effect Increase Choice C Decrease No effect Choice D Increase No effect Choice E No effect No effect Choice A Choice B O Choice Choice D Choice E Upham Corporation is considering the purchase of a machine costing $16,000. Estimated cash savings from using the new machine are $4,114 per year. The machine will have no salvage value at the end of its useful life of six years and the required rate of return for Upham Corporation is 12%. The machine's internal rate of return is closest to: 8% 10% O 12% O 14% O 6%