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Management of Cullumber Mints, a confectioner, is consideringpurchasing a new jelly bean-making machine at a cost of $312,500.They project that the cash flows from this investment will be$134,000 for the next seven years. If the appropriate discount rateis 14 percent, what is the NPV for the project? (Enternegative amounts using negative sign, e.g. -45.25. Do not rounddiscount factors. Round other intermediate calculations and finalanswer to 0 decimal places, e.g. 1,525.)NPV $____________Cullumber Specialties just purchased inventory-managementcomputer software at a cost of $1,652,950. Cost savings from theinvestment over the next six years will produce the following cashflow stream: $180,340, $260,240, $295,600, $593,250, $716,320, and$767,740. What is the payback period on this investment?(Round answer to 2 decimal places,e.g.15.25.)Payback period is______________ years