Exerclse 1012A (Algo) Determining the peyback perlod LO 10.4 Benson Airtine Company is considering expanding its territory. The company has the opportunity to purchase one of two different used alrplanes. The first alrplane is expected to cost $16.740,000it will enable the company to increase tis annual cash inflow by $6,200,000 per year. The plane is expected to have a useful life of five years and no salvage value. The second plane costs $26,400,000; it will enable the company to increase annual cash flow by $8,800,000 per year. This plane has an elght-year useful life and a zero salvage value. Requtred a1. Dotermine the payback period for each investment atternative. a2. Identif the alternative Benson should accept if the decision is based on the payback approach. Note: Round your answers to 1 decimal place