determining the payback period

Exercise 16-12A (Algo) Determining the payback period Lo 164 Baird Airine Company is considering expanding its teritory. The compeny has the opportunity to purchase one of two different uses aiplates. The first airplane is expected to cost 515.750.000 - it will enable the company to increase its annuat cash intow by $6300000 per year. The plane is expected to have a useful tife of five years and no salvage value. The second plane costs \$48.000.000. A will enable the company to increase annuai cash fow by 59600.000 per year. This pane has an cightyear usefulife anci a zero solvage value: Required a. Dutermine the peyback period for each investment alternative ond ideririy the a termative Baira stould accept ir the decision is bused on the payback approach. (Round your answert to faecinal plopil