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 $$12,500,000$; it will enable the company to increase its annual cash inflow by $$5,000,000$ per year. The plane is expected to have a useful life of five years and no salvage value. The second plane costs $$36,400,000$; it will enable the company to increase annual cash flow by $$9,100,000$ per year. This plane has an eight$-$year useful life and a zero salvage value.

Required

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.$)$