Question: 1 Brief Exercise 26.1 (Static) Understanding Payback Period (LO26-3) 1.66 points Return to question Rico Petricelli Industries invests $960,000 in plant assets with an estimated

1 Brief Exercise 26.1 (Static) Understanding Payback Period (LO26-3) 1.66 points

1 Brief Exercise 26.1 (Static) Understanding Payback Period (LO26-3) 1.66 points Return to question Rico Petricelli Industries invests $960,000 in plant assets with an estimated 10-year service life and no salvage value. These assets contribute $64,000 to annual net income when depreciation is computed on a straight-ne basis. Compute the payback period. Answer is complete but not entirely correct. Payback penod 4 years

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