Check my Rundle 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. Rundle 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 Year 1 Purchase price $ 87,809 Year 1 Revenue $36,090 Year 2 Revenue 36,090 Year 3 Revenue 25,080 Year 3 Major overhaul 9,200 Year 4 Revenue 22,090 Year 5 Revenue 20,090 Year 5 Salvage value 8,080 nces 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