1. 8.25 Assume you started a sideline business in commercial photography last year using your then-owned equipment. Due to excellent success, you plan to purchase new equipment and upgrade your studio facility. 1. Determine the no-return payback period. 2. If you set a study period of 8 years and hope for a return of 15% per year, will you meet your goal? First use factors, then the NPER function to answer this question.

Table Summary: Table divided into two columns shows cost of purchasing photography equipment at 15% rate of return. Column 1 notes the list of expenses. Column 2 shows the corresponding value, in dollars, per year. First cost of equipment, $ −130,000 Annual expenses, $ per year −45,000 Annual revenue, $ per year 75,000