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Question 8 (5 points) Lina Inc. is considering purchasing new equipment for $600,000. It is...

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Question 8 (5 points) Lina Inc. is considering purchasing new equipment for $600,000. It is expected that the equipment will produce annual profit of $15,000 over its 10-year useful life. The salvage value is expected to be zero. Annual depreciation will be $60,000. Required: Calculate the cash payback period (2 marks) and the annual rate of return (3 marks). Show all of your work / calculations for full marks. (Round the final answer for cash payback to two decimal places, such as 1.23 years) (Round the final answer for annual rate of return to zero decimal places, such as 1%, not 1.23%) Cash Payback Period: Annual Rate of Return EQh

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