Question: Current Attempt in Progress X Your answer is incorrect. Rihanna Company is considering purchasing new equipment for $578,500. It is expected that the equipment will

Current Attempt in Progress X Your answer is incorrect. Rihanna Company

Current Attempt in Progress X Your answer is incorrect. Rihanna Company is considering purchasing new equipment for $578,500. It is expected that the equipment will produce net annual cash flows of $65,000 over its 10-year useful life. Annual depreciation will be $57,850. Compute the cash payback period. (Round answer to 1 decimal place, e.g. 10.5.) Cash payback period 8.1 years

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