A plece 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 Japon. Relevant data relating to the equipment follow: Requlted: 1a. Compute the payback period for the equipment. to. If the company requires a payback period of four years or less, would the equipment be purchased? Complete this question by entering your answers in the tabs below. Compute the paybock period for the equipment. Note: Round your answer to i decimal place