Corn Doggy, Inc. produces and sells corn dogs. The corn dogs are dipped by hand. Austin Beagle, production manager, is considering purchasing a machine that will makethe corn dogs. Austin has shopped for machines and found that the machine he wantswill cost $160,000. In addition, Austin estimates that the new machine will increase thecompany's annual net cash inflows by $53,000. The machine will have a 16-year usefullife and no salvage value. Instructions(a)Calculate the cash payback period.(b)Calculate the accounting rate of return.(c)Calculate the machine's net present value assuming the cost of capital is 10%.(d)Calculate the machine's internal rate of return.