ewport Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual crease in cash flow of $215,000. The equipment will have an initial cost of $1,612,500 and have a 6 year life. There is no salvage value for the quipment. What is the payback period? Multiple Choice O 0.80 years o 6.00 years o 7.50 years o C