Required information [The following information applies to the questions displayed below] Nick's Novelties, incorporated, is considering the purchase of new electronic games to place in its amusement houses. The games would cost a total of $320,000, have a fitteen-year useful life, and have a total salvage value of $32,000. The company estimates that annual revenues and expenses associated with the games would be as follows: Required: 1a. Compute the payback period associated with the new electronic games. Ib Assume that Nick's Novelties, Incorporated, will not purchase new games unless they provide a payback period of five years or ess. Would the company purchase the new games