Blossom Corp. management is evaluating three competing types of equipment. Costs and cash flow projections for all three are given in the following table. Year 0 1 2 3 4 Type 1 -$1,209,600 589,600 131,200 322,500 113,750 121,396 Type 2 -$1,061,910 The Payback of type 1 is 439,650 309,950 248,390 131,250 Type 3 -$1,209,640 589,650 131,250 131,250 131,250 131,250 131,250 What is the payback period of the different types of equipment? (Round answers to 2 decimal places, e.g. 15.25.) years, Type 2 is Which would be the best choice based on payback period? years, Typed 3 is |||||

Blossom Corp. management is evaluating three competing types of equipment. Costs and cash flow projections for all three are given in the following table. What is the payback period of the different types of equipment? (Round answers to 2 decimal places, es. 15.25.) The Payback of type 1 is years, Type 2 is years, Typed 3 is Which would be the best choice based on payback period