Fanning Airline Company is considering expanding its territory. The company has the opportunity to purchase one of two different used airplanes. The first airplane is expected to cost $16.250,000; it will enable the company to increase its annual cash inflow by $6,500,000 per year. The plane is expected to have a useful life of five years and no salvage value. The second plane costs 534,800,000, it will enable the company to increase annual cash flow by $8,700,000 per year. This plane has an eight year useful life and a zero salvage value Required a. Determine the payback period for each investment alternative and identify the alternative Fanning should accept if the decision is based on the payback approach. Round your answers to 1 decimal place) Paybach Pened years 2-1 Alternative 1 (First plane) Alternative 2 (Second plane) Exercise 16-14 Determining the unadjusted rate of return LO 16-4 Solomon Painting Company is considering whether to purchase a new spray paint machine that costs $2,600. The machine is expected to save labor, increasing net income by $390 per year. The effective life of the machine is 15 years according to the manufacturer's estimate Required a. Determine the unadjusted rate of return based on the average cost of the investment Enter your answer as a whole percentago eg: 0.55 should be entered as 55). mattedrale ore