Carla Vista Corp. management is evaluating three competing types of equipment. Costs and cash flow projections for all three are given in the following table.

Year. Type 1. Type 2. Type 3 0 -$1,329,600. - $1,441,910. -$1,363,640

1 656,600 541,650 683,650

2 191,200 406,950 159,250

3 208,500 409,390 161,250

4 173,750 158,250 137,250

5 121,396 161,250

6 159,250

What is the payback period of the different types of equipment? (Round answers to 2 decimal places, e.g. 15.25.)

The Payback of type 1 is years, Type 2 is years, Typed 3 is years.

Which would be the best choice based on payback period?

Carla Vista should choose none of the equipments. Type 3 Type 2 Type 1