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Fuanklin Airline Compaty is considering expanding its territory. The company has the opportunity to purchase one of two different used airplanes. The first aimplane is

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Fuanklin Airline Compaty is considering expanding its territory. The company has the opportunity to purchase one of two different used airplanes. The first aimplane is expected to cost $17,360,000; it will enable the company to increase its annual cash inflow by $5,600,000 per yeat. The plane is expected to have a useful life of five years and no salvage value. The second plane costs $35,340,000; it will enable the company to increase annual cash flow by $9,300,000 per year. This plane has an eight-year useful life and a zero salvage value. Required a. Determine the paybock period for each investment alternotive and identify the alternative Franklin should accept if the decision is based on the poyback approach. (Round your answers to 1 decimal place.)

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