Calculate the project's cash payback period. (Round answer to 2 decimal places, e.g. 15.25.) years Attempts: 1 of 3 used (c) The parts of this question must be completed in order. This part will be available when you complete the part above. (d) The parts of this question must be completed in order. This part will be available when you complete the part above. Coronado Inc. wants to replace its current equipment with new high-tech equipment. The existing equipment was purchased 5 years ago at a cost of $123,000. At that time, the equipment had an expected life of 10 years, with no expected salvage value. The equipment is being depreciated on a straight-line basis. Currently, the market value of the old equipment is $43,700. The new equipment can be bought for $173,780, including installation. Over its 10-year life, it will reduce operating expenses from $190,200 to $146,000 for the first six years, and from $206,200 to $191,800 for the last four years. Net working capital requirements will also increase by $20,200 at the time of replacement. It is estimated that the company can sell the new equipment for $24,300 at the end of its life. Since the new equipment's cash flows are relatively certain, the project's cost of capital is set at 10%, compared with 15% for an average-risk project. The firm's maximum acceptable payback period is 5 years. Click here to view the factor table. (a) Calculate the initial investment amount. Calculate the project's cash payback period. (Round answer to 2 decimal places, e.g. 15.25.) years Attempts: 1 of 3 used (c) The parts of this question must be completed in order. This part will be available when you complete the part above. (d) The parts of this question must be completed in order. This part will be available when you complete the part above. Coronado Inc. wants to replace its current equipment with new high-tech equipment. The existing equipment was purchased 5 years ago at a cost of $123,000. At that time, the equipment had an expected life of 10 years, with no expected salvage value. The equipment is being depreciated on a straight-line basis. Currently, the market value of the old equipment is $43,700. The new equipment can be bought for $173,780, including installation. Over its 10-year life, it will reduce operating expenses from $190,200 to $146,000 for the first six years, and from $206,200 to $191,800 for the last four years. Net working capital requirements will also increase by $20,200 at the time of replacement. It is estimated that the company can sell the new equipment for $24,300 at the end of its life. Since the new equipment's cash flows are relatively certain, the project's cost of capital is set at 10%, compared with 15% for an average-risk project. The firm's maximum acceptable payback period is 5 years. Click here to view the factor table. (a) Calculate the initial investment amount