Toyland Products is considering producing toy action figures and sandbox toys. The products require dlifferent speclalized machines, each costing $1 million. Each machine has a five-year life and zero residual value. The two products have different pattems of predicted net cash inflows eel (Click the icon to view the data.) Calculate the toy action figure projects payback period. If the toy action figure project had a residual value of $200,000, would the payback period change? Explain and recalculate if necessary. Does this investment pass Toyland's payback period screening rule? Calculate the toy action figure project's payback period. Data Table First enter the formula, then calculate the payback period. (Enter amounts in dollars, not millions. Round your answer to two decimal places.) Initial investment Expected annual net cash inflowPayback period Annual Net Cash Inflows 1,000,000 305,450 3.27 years Year Toy action Sandbox toy If the toy action figure project had a residual value of $200,000, would the payback perlod change? Explain and recalculate if necessary. If the investment had a $200,000 residual value, the payback period would not be affected. The cash inflow from any residual value would into account when calculating the payback period. Round your answer to two decimal places.) igure project project 305,450 500,000 370,000 300,000 230,000 30,000 $1,527,250 $ 1430,000 305,450 305,450 305,450 305.450 The payback period if the toy acion figure project had a residual value of $200,000 isyears. Enter any number in the edit fields and then click Check Answen Total part remaining Toyland will consider making capital investments only if the payback period of the project is less than 3.5 years and the Clear All ARR exceeds 8%