15) please answer. I will give a good feedback

COTB MC Qu. 14-64 (Algo) Assume that you are thinking about... Assume that you are thinking about starting your own small business. You have made the following estimates regarding this opportunity: - You can rent a location for your business at a cost of $36,000 per year. - The equipment costs incurred to start the business would total $250,000. The equipment would have a 5 -year useful lfe and a salvage value of $25,000. - Your company's estimated sales per year would equal $350,000 and its varlable cost of goods sold would be 30% of sales. - Other operating costs would Include $55,000 per year in salarles, $4,000 per year for insurance, $25,000 per year for utilitles, and a 3% sales commission. The payback perlod for this Investment opportunity is closest to: Multiple Choice 2.18 years. 3.78 years. 3.06 years. 4.06 years