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un Coast Tours is considering purchasing a new boat for use in its tour business. Relevant information concerning the boat is as ollows: (Ignore income taxes.) Purchase cost Annual net cash inflows that will be provided by the boat Life of the boat equired: -a. Compute the payback period for the boat. ote: Round your answer to 1 decimal place. $240 , $ 52,800 15 years ayback perio 4.5 year(s) -b. If the company rejects all proposals with a payback period of more than five years, will the boat be purchased? @ Yes O No -a. Compute the simple rate of return on the boat. Use straight-line depreciation based on the boat's useful life, assuming $12,700 alvage value. ote: Round your answer to 1 decimal place. m era re rn 15.7 % -b. Will the boat be purchased if the company's required rate of return is 12%? @ Yes o No