Evergreen Lawnmowers is considering the purchase of a new machine costing $830,000. The company's management is estimating
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Evergreen Lawnmowers is considering the purchase of a new machine costing $830,000. The company's management is estimating that the new machine will generate additional cash inflows of $180,000 a year for ten years and have a residual value of $56,000 at the end of ten years. What is the machine's payback period? (Round your answer to two decimal places.)
Related Book For
Engineering Economy
ISBN: 978-0132554909
15th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
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