Part one: Boston General Hospital is considering investing $98,000 in a new dietary equipment to replace its present equipment, which is completely depreciated and outdated. An alternative to this investment is a long-term contract with a local firm to perform the hospital's dietary service. It is expected that the hospital would save $20,000 per year in operating costs if the dietary service was performed internally, vs. contracting it out. Both the expected life and the depreciable life of the projected equipment are 6 years. Salvage value of the present equipment is expected to be zero. Assuming that Boston General Hospital can borrow and invest money at 8%, calculate the payback period. Please show your work for this calculation and label it properly to receive credit