Cullumber Corp. management is evaluating three competing types of equipment. Costs and cash flow projections for all three are given in the following table. Year 0 1 2 3 4 5 6 Type 1 -$1,849,600 913,600 471,200 197,500 155,750 121,396 Type 2 -$1,191,910 456,650 326,950 316,390 142,250 Type 3 -$1,502,640 659,650 172,000 172,000 172,000 172,000 172,000

Cullumber Corp. management is evaluating three competing types of equipment. Costs and cash flow projections for all three are given in the following table. What is the payback period of the different types of equipment? (Round answers to 2 decimal places, eg. 15.25.) The Payback of type 1 is years, Type 2 is years, Typed 3 is Which would be the best choice based on payback period? Cullumber should choose What is the payback period of the different types of equipment? (Round answers to 2 decimal places, e.8. 15.25.) The Payback of type 1 is years, Type 2 is years, Typed 3 is Which would be the best choice based on payback period? Cullumber should choose