Ataxia Fitness Center is considering an investment in some additional weight training equipment. The equipment has an estimated useful life of 12 years with no salvage value at the end of the 12 years. Ataxia's internal rate of return on this equipment is 5%. Ataxia's discount rate is also 5%. The payback period on this equipment is closest to (Ignore income taxes.): Click here to view Exhibit 148-1 and Exhibit 148-2, to determine the appropriate discount factor(s) using the tables provided. Multiple Choice 12 years 8.863 years 9.963 years 6 years