Help Save & Exit 3 Palmer Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in net income after tax of $197.000. The equipment will have an initial cost of $414,000 and have a 8 year life. If the salvage value of the equipment is estimatec to be $78,000, what is the payback period? 2.5 ports Multiple Choice 8 000014 173 years 210 years 285 years O 800 years