Sikes Hardware is adding a new product line that will require an investment of $1,500,000. Managers estimate

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Sikes Hardware is adding a new product line that will require an investment of $1,500,000. Managers estimate that this investment will have a 10-year life and generate net cash inflows of $315,000 the first year, $285,000 the second year, and $240,000 each year thereafter for eight years. The investment has no residual value. Compute the payback period.
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Managerial Accounting

ISBN: 978-0176223311

1st Canadian Edition

Authors: Karen Wilken Braun, Wendy Tietz, Walter Harrison, Rhonda Pyp

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