Splash Planet is considering purchasing a water park for $$1,920,000.$ The new facility will generate annual net cash inflows of $$472,000$ for $8$ years. Engineers estimate that the facility will remain useful for $8$ years and have no residual value. The company uses straight$-$line depreciation, and its stockholders demand an annual return of $12\%$ on investments of this nature.

Read the requirements.

View the Present Value of $$1$ table.

View the Present Value of Ordinary Annuity of $$1$ table.

View the Future Value of $$1$ table.

View the Future Value of Ordinary Annuity of $$1$ table.

Requirement $1.$ Compute the payback, the ARR, the NPV$,$ the IRR, and the profitability index of this investment.

First, determine the formula and calculate payback. $($Round your answer to one decimal place, X$.$X$.)$

$\backslash$table$[[,$Amount invested,$,$Expected annual net cash inflow,$=,$Payback$],[$$$,1,920,000,$$$,472,000,=,4\mathrm{.}1$ years$]]$

Next, determine the formula and calculate the accounting rate of return $($ARR$).($Round the percentage to the nearest tenth percent, X$.$X$\%.)$

$\backslash$table$[[$Average annual operating income,$,$Average amount invested,$=$