3 Exercise 24-8 Payback period and accounting rate of return on investment LO P1, P2 828 Co is considering the purchase of equipment that would allow the company to add a new product to its line. The equipment is expected to cost $312.000 with a 12-year life and no salvage value. It will be depreciated on a straight be basis. The company expects to sell 124 800 units of the equipment's product each year. The expected annual income related to this equipment follows: 195,00 4000 costs Haters, labor, and werd except depreciation on new equipment Depreciation on now equipment Selling and distrative Totalsts and expenses Frainco 10 30,000 10.00 149.500 49.500 22:50 22.750 Net 1. Compute the payback period 2. Compute the accounting rate of return for this equipment Complete this question by entering your answers in the tabs below. Ded ed Compute the payback period - H. Chooseen Payback pent ME Grow