Please help!

Kenneth Gould is the general manager at a small-town newspaper that is part of a national media chain. He is seeking approval from corporate headquarters (HO) to spend $20,000 layout of hi method over four years. These computers kept on hand for emergency use. to buy some Macintosh computers and a laser printer to use in designing the s daily paper. This equipment will be depreciated using the straight line will replace outmoded equipment that will be HQO requires Kenneth to estimate the cash flows associated with the purchase of new equipment over a 4-year horizon. The impact o subtracting depreciation from cash flow each year. The project's average accounting rate of return equals the average contribution to net income divided by the average book value of the investment. HQ accepts any project that (1) returns the initial investment within four years (on a cash flow basis), and (2) has an average accounting rate of return that exceeds the cost of capital of 15 percent. The following are Kenneth's estimates of cash f the project on net income is derived by flows: Year 1 Year 2 S9,100 Year 3 $9,100 Year 4 $9,100 Cost savings $7,500 a. What is the average contribution to net income across all four years? b. What is the average book value of the investment? c. What is the average accounting rate of return? d. What is the payback period of this investment? e. Critique the company's method for evaluating investment proposals