A piece of labor-5aving equipment has just come onto the market that Mitsul Electronics, Limited, could use to reduce costs in one o its plants in Jopan. Relevant data relating to the equipment follow: Required: 10. Compute the payback period for the equipment 16. If the company requires a payback period of four years or less, would the equipment be purchased? 20. Compute the simple rate of return on the equipment Use straight-ine depreciation based on the equipment's useful life. 2b. Would the equipment be purchased if the company's required rate of return is 14% ? * Answer is not complete. Complete this question by entering your answers in the tabs below. Compute the payback period for the equipment. (Found your answer to 1 decimat place) A piece of labor-saving equipment has just come onto the market that Mitsul Electronics, Limited, could use to reduce costs in one of its plants in Japan. Relevant data relating to the equipment follow: Required: 10. Compute the payback period for the equipment. 1b. If the company requires a payback period of four years or less, would the equipment be purchased? 20. Compute the simple rate of retum on the equipment. Use straight-line depreciotion bosed on the equipment's useful life 2b. Would the equipment be purchased if the company's required rate of return is 14% ? Answer is not complete. Complete this question by entering your answers in the tabs below. Compute the simple rate of return on the equipment. Use straight-line depreciation based on the equipment's useful ife