Bower Co Is Reviewing a Capital Investment of $50,000 (C) Using the Results in (A) and (B) Make a Project's

Bower Co. is reviewing a capital investment of $50,000. This project's projected cash flows over a five-year period are estimated at $20,000 each year.
Required:
(a) Calculate the payback period.
(b) Calculate the break-even time. Assume a 12% hurdle rate and use the table below: $\begin{array}{ll}&\text { Present }\\&\text { Value }\\\text { Periods }&\text { of } 1 \text { at } 12 \%\\1 & 0.8929 \\2 & 0.7972 \\3 & 0.7118 \\4 & 0.6355 \\5 & 0.5674\end{array}$
(c) Using the results in (a) and (b) make a recommendation for the project.