Problem 26-1A Payback period, net present value, and net cash flow calculation UP1 CP3 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 $480,000 cost with an expected four-year life and a $20,000 salvage value. Additional annual information for this new product line follows. Sales of new product $1,840,000 1,488,000 Expenses Materials, labor, and overhead (except depreciation) Depreciation-Machinery Selling, general, and administrative expenses 115,000 183,100 Required 1. Determine income and net cash flow for each year of this machine's life. 2. Compute this machine's payback period, assuming that cash flows occur evenly throughout each year. 3. Compute net present value for this machine using a discount rate of 7%. Problem 26-2A Payback period, accounting rate of return, net present value, and net cash flow calculation P1 P2 P3 Type here to search 69F 11:46 AM 3/4/2022