Helt 2 Exercise 16-12A (Algo) Determining the payback period LO 16-4 Solomon 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 $15,660,000; it will enable the company to increase its annual cash inflow by $40,320,000; it will enable the company to increase annual cash flow by $9,600,000 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 Solomon should accept if the decision is based on the payback approach (Round your answers to 1 decimal place.) - Alternative 1 (First plane) Alternative 2 (Second plane) 1-2 Solomon should accept Payback Period years years