Question: A widget unmolder will be needed for 2 years for a project. If the firm invests $54,000 for this unmolder, the firm can earn income

A widget unmolder will be needed for 2 years for a project. If the firm invests $54,000 for this unmolder, the firm can earn income of $25,000 per year. The equipment has no salvage value and is not expected to be used after the 2-year project is completed. The equipment has a 10 year useful life. What is the payback period? Should the firm purchase this equipment? Please do not use spreadsheet.

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