Cowell Corporation is considering an investment in new equipment costing $155.000. The equipment will be depreciated on a straight-line basis over a five-year life and is expected to generate net cash inflows of $45,000 the first year, $65,000 the second year, and $90,000 every year thereafter until the fifth year. What is the payback period for this investment? The equipment has no residual value. 2.04 years 3 44 years 1.72 years 2.50 years QUESTION 28 Which of following is TRUE? Management accounting is prepared for external users Financial accounting uses the cash basis for recording transactions Financial accounting focuses on future data Management accounting focuses on relevant data for internal users