Current Attempt in Progress ALGS Ltd. wants to purchase a new machine for $29,900, excluding $1,500 in installation costs. The old machine was bought five years ago and had an expected economic life of 10 years without salvage value. This old machine now has a book value of $1,900 and ALGS Ltd. expects to sell it for that amount. The new machine would decrease operating costs by $8,300 each year of its economic life. The straight-line depreciation method would be used for the new machine, for a five-year period with no salvage value. (a) X Your answer is incorrect. Determine the cash payback period. (Ignore income taxes.) (Round answer to 4 decimal paces, e.g. 1.2501.) Cash payback period 3.55 years e Textbook and Media Save for Later Attempts: 1 of 2 used Submit