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Traction Trailers is tentative about projects that have a positive net present value but the returns occur in the later years that are hard to estimate. They have a proposed project costing $337,000 that returns the following cash flows: Year 1$100,000 Year 2$200,000 Year 3$300,000 Year 4$150,000 Year 5$150,000 Year 6$100,000 What is the payback period in years rounded to two decimals? Mellon Bank wants to experiment by adding a robot drive through at a cost of $228,000. The robot is expected to have a four year life and be sold for $86,000 at the end of its useful life. The belt is expected to lower labor by 134,000 each year as well as increase maintenance by 9,000 each year. Their working capital is not expected to change much. The required rate of return is 4%. What is the net present value of this investment? Salmon Treats wants to upgrade their canning conveyor belt at a cost of 280,000 . Their old one will be donated to a local technical school. The new belt system is expected to have a four year life and be sold for $25000 at the end of its useful life. The belt is expected to lower costs by $40,000 each year as well as increase production and sales by $53,000 each year. Their working capital is not expected to change much. The required rate of return is 8\%. What is the net present value of this investment