Please if someone can solve these 2 quick questions, thank you alot for your help. Will Up Vote and leave a positive review..

Cosmopolitan Manufacturing makes designer home decorating items. The company is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in net cash flows of $159,600. The equipment will have an initial cost of $532,000 and have a 5-year life. If the salvage value of the equipment is estimated to be $14,000, what is the annual net income? Ignore income taxes. Multiple Choice $145,600 0 $56,000 0 $263,200 0 $173,600 Wrangler Ranch is a western themed summer camp. The ranch is considering the purchase of a new piece of equipment, which would have an initial cost of $1,000,000 and a 5-year life. There is no salvage value for the equipment. The increase in cash flow each year of the equipment's life would be as follows: Year 1 Year 2 Year 3 Year 4 Year 5 $ 393, 000 $ 368,000 $ 303,000 $ 248,000 $ 203,000 What is the payback period? Multiple Choice 2.22 years 2.79 years 2.83 years