A piece of labour-saving equipment has just come onto the market, which Mitsui Electronics Ltd. could use to reduce costs in one of its plants in Japan. Relevant data relating to the equipment follow (currency is in thousands of yen, denoted by ): Purchase cost of the equipment Annual cost savings that will be provided by the equipment Life of the equipment 273,600 57,000 12 years Required: 1-a. Compute the payback period for the equipment. (Round your answer to 1 decimal place.) Payback period years 1-b. If the company requires a payback period of five years or less, would the equipment be purchased? O No O Yes 2-a. 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. (i.e., 0.123 should be considered as 12.3%).) Simple rate of return % 2-b. Would the equipment be purchased if the company requires a rate of return of at least 12%? O No Yes