1 and 2 pls

To open a new store, Thornton Tire Company plans to invest $354,000 in equipment expected to have a six-year useful life and no salvage value. Thornton expects the new store to generate annual cash revenues of $315,000 and to incur annual cash operating expenses of $190,000. Thornton's average income tax rate is 35 percent. The company uses straight-line depreciation. Required Determine the expected annual net cash inflow from operations for each of the first four years after Thornton opens the new store Note: Negative amounts should be indicated by a minus sign. Thornton Airline Company is considering expanding its territory. The company has the opportunity to purchase one of two different used airplanes. The first airplane is expected to cost $16,530,000; it will enable the company to increase its annual cash inflow by $5,700,000 per year. The plane is expected to have a useful life of five years and no salvage value. The second plane costs $46,560,000; it will enable the company to increase annual cash flow by $9,700,000 per year. This plane has an eight-year useful life and a zero salvage value. Required a1. Determine the payback period for each investment alternative. 02. Idenufy the alternative Thornton should accept if the decision is based on the payback approach. Note: Round your answers to 1 decimal place