2B- A piece of laborsaving equipment has just come onto the market that Mitsui Electronics, Ltd., could use to reduce costs in one of its plants in Japan. Relevant data relating to the equipment follow: Purchase cost f he equioment . $8200 Aual cot saings tht wil le provided by the equigment . Lie cf he equignert . $900 12 years ......... ( 3+1= 4 marks) Required: Compute the payback period for the equipment. If the company requires a payback period of four years or less, would the equipment be purchased