Payback Analysis

$8\mathrm{.}25$ Assume you started a sideline business in commercial photography last year using your thenowned equipment. Due to excellent success, you plan to purchase new equipment and upgrade your studio facility.

a$.$ Determine the no$-$return payback period.

b$.$ If you set a study period of $8$ years and hope for a return of $15\%$ per year, will you meet your goal? First use factors, then the NPER function to answer this question.

$\backslash$table$[[$First cost of equipment, $$,-130,000$