follows: (Ignore Income taxes.) Required: 1-a. Compute the payback perlod for the boat. (Round your answer to 1 decimal place.) Answer is complete and correct. \begin{tabular}{|l|l|} \hline Payback period & 4.50 \\ \hline \end{tabular} 1-b. If the company rejects all proposals with a payback period of more than five years, will the boat be purchased? Yes No 2-a. Compute the simple rate of return on the boat. Use straight-Ine depreclation based on the boat's useful Ife, assumIng $12,700 salvage value. (Round your answer to 1 declmal place.) Answer is complete but not entirely correct