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.) Initial investment = Payback period Expected annual net cash inflow 317,750 1,300,000 / $ 4.09 years If the toy action figure project had a residual value of $100,000, would the payback period change? Explain and recalculate if necessary. the asset's useful operating life and is not taken into account when calculating the If the investment had a $100,000 residual value, the payback period would not be affected. The cash inflow from any residual value would occur at the end of payback period. (Round your answer to two decimal places.) The payback period if the toy action figure project had a residual value of $100,000 is years