Toy Universe Products is considering producing toy action figures and sandbox toys. The products require different specialized machines, each costing $1.3 million. Each machine has a five-year life and zero residual value. The two products have different patterns of predicted net cash inflows: 33 (Click the icon to view the data.) Calculate the toy action figure project's payback period. If the toy action figure project had a residual value of $100,000, would the payback period change? Explain and recalculate if necessary. Does this investment pass Toy Universe's payback period screening rule? A Data Table - X Calculate the toy action figure project's payback period. First enter the formula, then calculate the payback period. (Enter amounts in dollars, not millions. Round your answer to two decimal places.) = Payback period Annual Net Cash Inflows Year Toy action Sandbox toy figure project project 1...... .......... $ 317,750 $ 530,000 2....... 317,750 390,000 3........ 317,750 330,000 317,750 275,000 317,750 50,000 4.... 5. .... Total 1,588,750 $ 1,575,000 Toy Universe will consider making capital investments only if the payback period of the project is less than 3.5 years and the ARR exceeds 8%. Toy Universe Products is considering producing toy action figures and sandbox toys. The products require different specialized machines, each costing $1.3 million. Each machine has a five-year life and zero residual value. The two products have different patterns of predicted net cash inflows: (Click the icon to view the data.) Calculate the toy action figure project's payback period. If the toy action figure project had a residual value of $100,000, would the payback period change? Explain and recalculate if necessary. Does this investment pass Toy Universe's payback period screening rule? Calculate the toy action figure project's payback period. First enter the formula, then calculate the payback period. (Enter amounts in dollars, not millions. Round your answer to two decimal places.) Payback period