Problem $26-1$A $($Algo$)$ Payback period, net present value, and net cash flow calculation LO P$1,$ P$3$

Factor Company is planning to add a new product to its line. To manufacture this product, the company needs to buy a new machine at a $$507,000$ cost with an expected four$-$year life and a $$20,000$ salvage value. Additional annual information for this new product line follows. $($PV of $$1,$ FV of $$1,$ PVA of $$1,$ and FVA of $$1)$

Note: Use appropriate factor$($s$)$ from the tables provided.

Sales of new product $$1,920,000$

Expenses

$\backslash$table$[[$Materials$,$ labor, and overhead $($except depreciation$),1,489,000$