The HIG company is planning to purchase a new equipment to increase the production and revenues. It would cost $25,000 and would have a useful life of ten years with no salvage value, with expected cash inflow of $6,000 for the first four years and $3,000 for every year thereafter. What is the payback period (using simple method)? 20 quarters 12 quarters O 16 quarters 4 quarters 8 quarters