I Fachoe Conipany is considering purchasing new equipmerit for 5531,000 . it is expected that the equipment will neoduce net onnual cash flows of 559,000 over its 10 year useful life.Annuat depreciation will be 553,100, Compute the cash payback beriod, (Round answer to 1 decimal ploce, es. 10.5J Cashpavtack period years I Fachoe Conipany is considering purchasing new equipmerit for 5531,000 . it is expected that the equipment will neoduce net onnual cash flows of 559,000 over its 10 year useful life.Annuat depreciation will be 553,100, Compute the cash payback beriod, (Round answer to 1 decimal ploce, es. 10.5J Cashpavtack period years