A piece of labor-saving equipment has Just come onto the market that Mitsul Electronics, Limited, could use to reduce costs in one o its plants in Japan. Relevant data relating to the equipment follow: Required: 1a. 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? 2a. Compute the simple rate of return on the equipment. Use straight-line depreciation based on the equipment's useful life. 2b. Would the equipment be purchased if the company's required rate of return is 14% ? Complete this question by entering your answers in the tabs below. Compute the payback period for the equipment. (Round your answer to 1 decimal plac Complete this question by entering your answers in the tabs below. If the company requires a payback period of four years or less, would the equipment be purchased? Yes 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 life. (Round your answer to 1 decimal place l.e. 0.123 should be considered as 12.3% ) Complete this question by entering your answers in the tabs below. Would the equipment be purchased if the company's required rate of return is 14% Yes