Exercise $24-6($Algo$)$ Payback period, equal cash flows, and accounting rate of return LO P$1,$ P$2$

B$2$B Company is considering the purchase of equipment that would allow the company to add a new product to its line. The equipment costs $$408,000$ and has a $12-$year life and no salvage value. The expected annual income for each year from this equipment follows.

$\backslash$table$[[$Sales of new product,$$255,000$