QUESTION 31 Assume the following information for a capital budgeting proposal with a five-year time horizon: Initial investment: Cost of equipment (zero salvage value) Annual revenues and costs: $ 510,000 Sales revenues $ 300,000 $ 130,000 Variable expenses Depreciation expense Fixed out-of-pocket costs $ 50,000 $ 40,000 The payback period for this investment is closest to: O 1.59 years: 6.38 years. 3.92 years. 3.00 years. QUESTION 29 Assume the following information for a capital budgeting proposal with a five-year time horizon: $440,000 Initial investment: Cost of equipment (zero salvage value) Annual revenues and costs: Sales revenues Variable expenses Depreciation expense Fixed out-of-pocket costs $ 300,000 $ 130,000 $50,000 $ 40.000 Click here to view Exhibit 148-1 and Exhibit 148-2, to determine the appropriate discount factor(s) using the tables provided. This proposal's internal rate of return is closest to: 0.14 12 17 194