i Data Table Annual Net Cash Inflows Year Sandbox toy Toy action figure project project 305,450$ 305,450 305,450 305,450 305,450 525,000 390,000 300,000 270,000 20,000 1,527,250 $ 1,505,000 2. 3. 5. Total Toy Universe will consider making capital investments only if the payback period of the project is less than 3.5 years and the ARR exceeds 8% Print Done Toy Universe Products is considering producing toy action figures and sandbox toys. The products require different specialized machines, each costing $1.1 million. Each machine has a five-year life and zero residual value. The two products have different patterns of predicted net cash inflows: Click the icon to view the data.) Calculate the sandbox toy project's payback period. If the sandbox toy project had a residual value of $150,000, would the payback period change? Explain and recalculate if necessary. Does this investment pass Toy Universe's payback period screening rule? Calculate the sandbox toy project's payback period First, enter the formula, then calculate the payback period. (Enter amounts in dollars, not millions. Round your answer to two decimal places. Abbreviation used: Amt. Amount.) -Payback