Question: Hardware is adding a new product line that will require an investment of $1,476,000. Managers estimate that this investment will have a 10-year life and
Hardware is adding a new product line that will require an investment of $1,476,000. Managers estimate that this investment will have a 10-year life and generate net cash inflows of $330,000 the first year, $300,000 the second year, and $240,000 each year thereafter for eight years. Compute the payback period. Round to one decimal place.
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