Benson Company has an opportunity to purchase a forklift to use in its heavy equipment rental business. The forklift would be leased on an annual basis during its first two years of operation. Thereafter, it would be leased to the general public on demand. Benson would sell it at the end of the fifth year of its useful life. The expected cash inflows and outflows follow:

Year	Nature of Item	Cash Inflow				Cash Outflow
2018	Purchase price					$	81,200
2018	Revenue	$	31,500
2019	Revenue		31,500
2020	Revenue		26,500
2020	Major overhaul						8,300
2021	Revenue		17,500
2022	Revenue		15,500
2022	Salvage value		7,100

Required

a.&b. Determine the payback period using the accumulated and average cash flows approaches. (Round your answers to 1 decimal place.)

a.	Payback period (accumulated cash flows)		years
b.	Payback period (average cash flows)		years