Mountain Company's sales were budgeted for the first months of its fiscal year as follows: April $340,000 May $420,000 All sales are on credit and management estimates that 55% will be collected in the month of the sale, with the remaining 45% collected in the month following the sale. Cash collections during May are estimated at: Multiple Choice O $231000 $384.000 O $376,000 PISA 1 of 30 !! Next > search ORA a A company is considering the purchase of equipment for $400,000, with a useful life of 8 years and no residual value is expected to yield the following annual net incomes and net cash flows: Year Net Income Net Cash Flow 1 $90,000 $110,000 2 90.000 100,000 3 80,000 100,000 4 70,000 80,000 5 70,000 90,000 6 80,000 90,000 7 80,000 90,000 8 70,000 90.000 What is the cash payback period? Multiple Choice 3.9 years 4.11 Vears w o BD a