A engineering firm plans to buy new software to improve efficiency. The software has an initial cost
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Question:
A engineering firm plans to buy new software to improve efficiency. The software has an initial cost of $18,000, and is expected to increase profit by $2,000 per year. Determine the payback period for the software including the effect of interest using an MARR of 4%. Express your answer in years to the nearest whole year.
Related Book For
Engineering Economy
ISBN: 978-0132554909
15th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
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