Finch Company has an opportunity to purchase a forklift to use in its heavy equipment rental business. The forklift would be leased on an annual basis during its first two years of operation. Thereafter, it would be leased to the general public on demand. Finch would sell it at the end of the fifth year of its useful life. The expected cash inflows and outflows follow: Year Nature of Item Cash Inflow Year 19 Purchase price Cash Outflow $85,400 Year 1 Revenue $33,000 Year 2 Revenue 33,000 Year 3 Revenue 28,000 Year 3 Major overhaul 8,600 Year 4 Revenue 19,000 Year 5 Year 5 Revenue 17,000 Salvage value 7,400 Required a.&b. Determine the payback period using the accumulated and average cash flows approaches. (Round your answers to 1 decimal place.) a. Payback period (accumulated cash flows) years b. Payback period (average cash flows) years