In Chicago Valve Company: Capital Budgeting suppose one of Lone Star's executives typically uses the payback as a primary capital budgeting decision tool and wants some payback information. What is the project's payback period? What is the rationale behind the use of payback as a project evaluation tool? Strictly as a sales tool, without regards to validity of the analyst, would the payback be of more help to the sales staff for some types of equipment than for others? Explain. Please show all work.