Nick's Novelties, Inc., is considering the purchase of new electronic games to place in its amusement houses. The games would cost a total of $175,000, have an fifteen-year useful life, and have a total salvage value of $17,500. The company estimates that annual revenues and expenses associated with the games would be as follows: $ 200,000 Revenues Less operating expenses: Commissions to amusement houses Insurance Depreciation Maintenance Net operating income $80,000 25,000 10,500 60.000 175.500 $ 24,500 value Required Information 1.00 points Required: 1a. Compute the pay back period associated with the new electronic games. Payback Period I Choose Denominator: Choose Numerator: Payback Period Payback period years