Check my work 12 Required information [The following information applies to the questions displayed below.) Nick's Novelties, Incorporated, is considering the purchase of new electronic games to place in its amusement houses. The games would cost a total of $432,000, have a fifteen-year useful life, and have a total salvage value of $43,200. The company estimates that annual revenues and expenses associated with the games would be as follows: Revenues $ 230,000 Less operating expenses: Commissions to amusement houses $ 70,000 Insurance 56,000 Depreciation 25,928 Maintenance 50,000 201,920 Net operating income $ 28,080 Book Hunt erences Required: 1a. Compute the payback period associated with the new electronic games. 1b. Assume that Nick's Novelties, Incorporated, will not purchase new games unless they provide a payback period of five years or less. Would the company purchase the new games? Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Compute the payback period associated with the new electronic games