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Thornton Company has an opportunity to purchase a forkint to use in its heavy equipmens tental business. The forkint would be leased. On an annual

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Thornton Company has an opportunity to purchase a forkint to use in its heavy equipmens tental business. The forkint would be leased. On an annual basis during its first two years of operation. Thereafter, it would be leased to the general pubic on denanit Thernton would sell it at the end of the fifth year of is useful life. The expectod cash inflows and cuthows fellow Required a.8b. Determine the payback period using the accumulated and average cash flows approaches. (Round your answers to 1 eecimal place.)

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