please help. take ur time.

Colchester Company is considering purchasing a new piece of equipment Relevant information concerning the equipment follows: (Ignore income taxes.) Purchase cost $210,000 Annual cost savings that will be provided by the equipment $ 42,000 Life of the equipment 8 years Required: 'l-a. Compute the payback period for the equipment. (Round your answer to 1 decimal place.) 1-b. If the company rejects all proposals with a payback period of more than four years, will the equipment be purchased? 0 Yes O No 2-3. Compute the simple rate of return on the equipment. Use straightline depreciation based on the equipments useful life, assuming $0 salvage value. (Round your answer to 1 decimal place.) -I 2-b. Will the equipment be purchased if the company's required rate of return is 9%? Yes O No