The Seago Company is planning to purchase $524, 500 of equipment with an estimated seven-year life and no estimated salvage value. The company has projected the following annual for the investment. Calculate the payback period for the proposed equipment purchase. Assume that all cash flows occur evenly throughout the year. Payback period years and months. If Seago requires a payback period of three years or less, should the company make this investment? The company make the investment