Please answer this question properly. I already posted this question and I was given the wrong asnwer and the incorrect steps. WILL UPVOTE

L Company is considering two new machines that should produce considerable cost savings in its assembly operations. The cost of each machine is $14,000 and neither is expected to have a salvage value at the end of a 4-year useful life. L Company's required rate of return is 12% and the company prefers that a project return its initial outlay within the first half of the project's life. The annual after-tax cash savings for each machine are provided in the following table: Required: a) Compute the payback period for each machine b) Compute the net present value for each machine. c) Which machine should be purchased