Question 18 (5 points) The expected average rate of return for a proposed investment of $6,000,000 in a fixed asset, using straight-line depreciation, with a useful life of 20 years, no residual value, and an expected total net income of $12,000,000 over the 20 years is 20% 10% 40% 5% Question 19 (5 points) An anticipated purchase of equipment for $490,000 with a useful life of eight years and no residual value is expected to yield the following annual net incomes and net cash flows: Year Net Cash Flow Net Income $60,000 1 $110,000 2 50,000 100,000 3 50,000 100,000 4 40,000 90,000 5 40,000 90,000 6 40,000 90,000 7 40,000 90,000 40,000 90,000 What is the cash payback period? 5 years 4 years 6 years 3 years