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Homework Help Save & Exit Submit CAUCIBUVIJA Migoj Eve Check my work ure payUAL Peruu WILI MIREVI LODI HUWS LU 1 Solomon Company has an opportunity to purchase a forklift to use in its heavy equipment rental business. The forklift would be leased on an annual basis during its first two years of operation. Thereafter, it would be leased to the general public on demand Solomon would sell it at the end of the fifth year of its useful life. The expected cash inflows and outflows follow Cash Inflow Year 1 Nature of Item Purchase price Revenue Cash Outflow $ 90,660 $ 37,000 37,000 26,00 Year Year 4 Year 5 Revenue Major overhaul Revenue Revenue Salvage value 21,080 8,200 Required ..&b. Determine the payback period using the accumulated and average cash flows approaches. (Round your answers to 1 decimal place.) a Payback period (accumulated cash flows) b. Payback period (average cash flows) 30 years 3.0 years Active Windows STPM O e 9 ab and Windows