Oriole Co. is considering purchasing a new piece of equipment that will cost $736000. The equipment has an estimated useful life of 7 years and no salvage value. The new equipment will produce annual cash inflows and net income of $230000 and $91000, respectively. Oriole requires a 11% rate of return. What is the payback period for this equipment? 4.16 years 3.20 years 7.00 years 6.33 years