Check my work 3 O Required Information Part 1 of 2 [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 $325,000, have a fifteen-year useful life, and have a total salvage value of $32,500. The 5 points company estimates that annual revenues and expenses associated with the games would be as follows: Revenues $ 220,080 Less operating expenses: Commissions to amusement houses $ 60, 080 Book Insurance 55, 090 Depreciation 19, 590 Maintenance 40, 080 174,500 Net operating income 3 45, 500 Him Ack 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 Print less. Would the company purchase the new games? Complete this question by entering your answers in the tabs below. References Req 1A Req 18 Compute the payback period associated with the new electronic games. Payback Period Years