Sed Help Save & Exit Kent Corp. is considering the purchase of a new plece of equipment, which would have an initial cost of $521,000, a 7-year life, and $150,000 salvage value. The Increase in cash flow each year of the equipment's life would be as follows: Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 $ 106,000 $ 98,000 $ 96,000 $ 85,000 $ 82,000 $ 77,000 $ 71,000 What is the payback period? What is the payback period? Multiple Choice 5.73 years 5.70 years 5.91 y years 5.24 years