A shoe manufacturer is evaluating new equipment that would custom fit athletic shoes. The new equipment...

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A shoe manufacturer is evaluating new equipment that would custom fit athletic shoes. The new equipment costs $91,000 and wil generate $36,000 in net cash flows for five years. Note: Negative cumulative cash flows should be indicated with a minus sign. Round break-even time answers to two decimal places. Determine the break-even time for this equipment. Year Net Cash Flow X Present Value of 1 = at 10% Present Value Cumulative Present of Net Cash Value of Net Cash Flows Flows Initial investment $ (91,000) x 1.0000 = $ (91,000) $ (91,000) Year 1 36,000 x 0.9091 = 32,728 Year 2 36,000 x 0.8264 II Year 3 36,000 x 0.7513 Year 4 36,000 x 0.6830 = 29,750 27,047 24,588 Year 5 36,000 x 0.6209 = 22,352 A shoe manufacturer is evaluating new equipment that would custom fit athletic shoes. The new equipment costs $91,000 and wil generate $36,000 in net cash flows for five years. Note: Negative cumulative cash flows should be indicated with a minus sign. Round break-even time answers to two decimal places. Determine the break-even time for this equipment. Year Net Cash Flow X Present Value of 1 = at 10% Present Value Cumulative Present of Net Cash Value of Net Cash Flows Flows Initial investment $ (91,000) x 1.0000 = $ (91,000) $ (91,000) Year 1 36,000 x 0.9091 = 32,728 Year 2 36,000 x 0.8264 II Year 3 36,000 x 0.7513 Year 4 36,000 x 0.6830 = 29,750 27,047 24,588 Year 5 36,000 x 0.6209 = 22,352