E.12.3 investment in an item of equipment is $22,000. It has a five-year life and no salvage value and shirt one depreciation method is used the equipment is expected to provide an annual savings of $2900, which does not include depreciation. What is the pay back period?

Answer rating: 100% (QA)

The payback period is the number of years it takes for the investment to recover its initial cost Si... View the full answer