Payback comparisons Nova Products has a 4-year maximum acceptable payback period. The firm is considering the purchase of a new machine and must choose between two alternatives. The first machine requires an initial investment of $17,000 and generates annual after tax cash infows of $5,000 for each of the next 12 years. The second machine requires an initial investment of $30,000 and provides an annual cash intow after taxes of $9,000 for a. Determine the payback period for each machine b. Comment on the comptability of the machines, assuming that they are independent projects e. Which machine should the firm accept? Why? d. Do the machines in this problem state any of the weakness of using payback? a. The payback period for the first machines years. Round to two decimal places)