3 Currie Company has an opportunity to purchase a forklift to use in its heavy equipment rental business. The forklift would be leased on an annual basis during its first two years of operation. Thereafter, it would be leased to the general public on demand. Currie would sell it at the end of the fifth year of its useful life. The expected cash inflows and outflows follow: Year Year 1 Year 1 Year 2 Year 3 Year 3 Year 4 Year 5 Year 5 Total cash flows Average cash inflow Required Nature of Item Purchase price Cash Inflow Cash Outflow $86,000 Revenue $30,000 Revenue $40,000 Revenue $28,000 Major overhauli $12,000 Revenue $20,000 Revenue $14,400 Salvage value $9,600 $86,000 $26,000 a.&b. Determine the payback period using the accumulated and average cash flows approaches. Note: Use the cells from the given information to complete this question. Students may enter a harded coded number in the part a answer. a Payback period (accumulated cash flows) b. Payback period (average cash flows) years years Students: The scratchpad area is for you to do any additional work you need to solve this question or can be used to show your work. Nothing in this area will be graded, but it will be submitted with your assignment. A Graded Worksheet