Equipment was purchased for $26,000 and will have a 6-year useful life and a $5,500 salvage value. The equipment will result in annual cash inflows of $33,500 and annual cash outflows of $28,000. The equipment is depreciated using the straight-line method. The payback period is closest to: (Round your answer to 1 decimal place.) Multiple Choice 47 years 3.7 years 57 years 51 years