35. Newport Corporation is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in cash flow of $200,000. The equipment will have an initial cost of $900,000 and a 6-year useful life with no salvage value. What is the payback period? Multiple Choice 6.00 years 2.57 years 4.50 years

Newport Corporation is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in cash flow of $200,000. The equipment will have an initial cost of $900,000 and a 6year useful life with no salvage value. What is the payback period? Multiple Choice 600 years 2.57 years 4. 50 years