Required information Exercise 16-35 Payback Period; Even Cash Flows (Section 3) (LO 16-1, 16-6, 16-8) [The following information applies to the questions displayed below.] The management of Niagara National Bank is considering an investment in automatic teller machines. The machines would cost $142,600 and have a useful life of seven years. The bank's controller has estimated that the automatic teller machines will save the bank $31,000 after taxes during each year of their life (including the depreciation tax shield). The machines will have no salvage value. Use Appendix A for your reference. (Use appropriate factor(s) from the tables provided.) Exercise 16-35 Part 2 2. Compute the net present value of the proposed investment assuming an after-tax hurdle rate of (a) 10 percent, (b)12 percent, and (c) 14 percent. (Do not round intermediate calculations. Negative amounts should be indicated by a minus sign.)