Palmer Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an area net income after tax of S124,000. The equipment will have an initial cost of $458.000 and have a 6 year it, the salvage value of the equipment is estimated to be 584 000, what is the payback period? Multiple Choice 3.65 years O 6.00 years O 4.40 years 2.44 years