The textbook (in its Chapter 17) explains capital expenditure budgets concepts. One of the methods used is the payback period method. After reading chapter 17, go to its Appendix 17-A in page 205 and try to replicate the example provided in Table 17-A-1 Payback Method. Do you understand what it means to have a project with a 3.5 years as payback period? Explain. If you were investing in this project, would you prefer a lower payback period (let's say 2.5 years for example) or a higher payback period (let's say 4.5 years for example)? Explain.