Paimer Corp. is considering the purchase of a new piece of equipment. The cost sovings from the equipment would result in an annual increase in net income after tax of $97,000. The equipment will have an initiat cost of $414,000 and have a 8 year life. If the salvage value of the equipment is estimated to be $78,000, what is the payback period? Mutple Choice 173 years 210 years 2.05 yeas Bloo years