is an X + courses/36019/assignments/3780479 View Policies Current Attempt in Progress The Flounder Company is planning to purchase $525.600 of equipment with an estimated seven-year life and no estimated salvage value. The company has projected the following annual cash flows for the investment. Year Projected Cash Flows $216.000 164.500 119.500 76,800 76,800 50,500 50.500 Total $754,600 sume that all cash flows occur evenly throughout the year (a) Calculate the payback period for the proposed equipment purch years and months Payback period (b) if Flounder requires a payback period of three years or less, should the company make this investment? make this investment HEWLET-PACKARD