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Oates Tannery Is considering making a capital expenditure for a project that would have an eightyear life and require a $6,250,000 investment in equipment. At the end of eight years, the project would terminate and the equipment would have no salvage value. The project would provide operating income each year as follows: The company's discount rate is 8%. Required: Compute the following, indicating your answer in the blanks provided. To receive marks, your work must be shown in the spaces provided and must fully support your answers. 1) Compute the net annual cash inflow from the project. (5 marks) 2) Compute the Project's Net Present Value. (5 marks) 3) Compute the Project's Payback Period (4 marks) 4) Compute the Project's Simple Rate of Return (4 marks) 5) Should the equipment be purchased? Explain your answer. ( 2 marks)