Question 16 of 16 -/1 E View Policies Current Attempt in Progress Marigold Co. is considering purchasing a new piece of equipment that will cost $805000. The equipment has an estimated useful life of 7 years and no salvage value. The new equipment will produce cash inflows and net income of $230000 and $115000, respectively. Marigold requires a 8% rate of return. What is the payback period for this equipment? O 7.00 years O 4.50 years O 3.50 years 8.56 years Save for Later Attempts: 0 of 1 used Submit