Nick's Novelties, incorporated, is considering the purchase of new electronic games to place in its amusement houses. The games would cost a total of $304,000, have a fifteen-year useful life, and have a total salvage value of $30.400. The company estimates that annual revenues and expenses assoclated with the games would be as follows: Exercise 14-8 Part 1 (Algo) Required: la. Compute the payback period associated with the new electronic games. 1b. Assume that Nick's Novelties, Incorporated, will not purchase new games unless they provide a payback period of five years or less. Would the company purchase the new games