The following Information applies to the questions displayed below.j Nick's Novelties, Inc., Is considering the purchase of new electronic games to place In its amusement houses. The games would cost a total of $385,000, have an fifteen-year useful life, and have a total salvage value of $38,500. The company estimates that annual revenues and expenses assoclated with the games would be as follows Revenues $280,000 Less operating expenses: Commissions to amusement houses $80,000 Insurance Depreclation Malntenance 53,000 23,100 70,000 226,100 Net operating Income $ 53,900 value: 1.00 points Required 1a. Compute the pay back period associated with the new electronic games Payback Period Choose Numerator:Choose Denominator:Payback Period Payback period years 1b. Assume that Nick's Novelties, Inc., will not purchase new games unless they provide a payback period of five years or less. Would the company purchase the new games? O Yes 0