View Policies Current Attempt in Progress The Pina Colada Company is planning to purchase $529,300 of equipment with an estimated seven-year life and no estimated salvage value. The company has projected the following annual cash ows for the investment. Projected Cash Year Flows 1 $184,500 Question90f12 _/4 E 6 45,500 7 45,500 Total $682,300 (3) Calculate the payback period for the proposed equipment purchase. Assume that all cash ows occur evenly throughout the year. Payback period years and months. (b) If Pina Colada requires a payback period of 4 years or less. should the company make this investment? The company v make this investment. eTextbook and Media Save for Later Attempts: 0 of 3 used