Bristles Hair Salon is considering installing spray tanning booths. The booths cost $220,000 and have an estimated five-year useful life. Ignore income taxes. The following pro forma income statement is provided $ 95,000 Spray booth revenue Less expenses Supplies Insurance Depreciation Maintenance Not income $ 15,000 5.000 44,000 6,000 70,000 $ 25,000 Required: 1) Bristles would like to recoup its original investment in less than four years. Compute the payback period for the tanning booth investment. Would you recommend that the booths be purchased? Why or why not? TTT Ariel 311200