Question: Joe's Hardware is adding a new product line that will require an investment of $1,470,000. Managers estimate that this investment will have a 10-year life

Joe's Hardware is adding a new product line that will require

Joe's Hardware is adding a new product line that will require an investment of $1,470,000. 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 $235,000 each year thereafter for eight years. The investment has no residual value. Compute the payback period

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