Mitsul Electronics, Limited, Is considering buying a labor-saving plerce of equipment and provided the following data: Purchase cost of the equipment $ 560, 500 Annual cost savings that will be provided by the equipment $ 95, 800 Life of the equipment 10 years Required: 1a. Compute the payback perlod for the equipment. 1b. If the company requires a payback perlod of four years or less, would it buy the equipment? 2a. Compute the simple rate of return on the equipment. Use straight-line depreciation based on the equipment's useful life. 2b. Would the company buy the equipment if its required rate of return Is 16%? Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2A Required 28 Would the company buy the equipment if its required rate of return is 16%