Crane Company is considering a capital investment of $369,600 in additional productive facilities. The new machinery...

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Crane Company is considering a capital investment of $369,600 in additional productive facilities. The new machinery is expected to have useful life of 6 years with no salvage value. Depreciation is by the straight-line method. During the life of the investment, annual net income and net annual cash flows are expected to be $18,480 and $84,000, respectively. Crane has an 9% cost of capital rate, which is the required rate of return on the investment. (a1) Compute the cash payback period. (Round answer to 2 decimal places, e.g. 2.25.) Cash payback period years eTextbook and Media Crane Company is considering a capital investment of $369,600 in additional productive facilities. The new machinery is expected to have useful life of 6 years with no salvage value. Depreciation is by the straight-line method. During the life of the investment, annual net income and net annual cash flows are expected to be $18,480 and $84,000, respectively. Crane has an 9% cost of capital rate, which is the required rate of return on the investment. (a1) Compute the cash payback period. (Round answer to 2 decimal places, e.g. 2.25.) Cash payback period years eTextbook and Media