Question: Suppose Stenback Valley is deciding whether to purchase new accounting software. The payback for the $30,050 software package is five years, and the softwares expected

Suppose Stenback Valley is deciding whether to purchase new accounting software. The payback for the $30,050 software package is five years, and the software’s expected life is seven years. Stenback Valley’s required rate of return for this type of project is 9.0%. Assuming equal yearly cash flows, what are the expected annual net cash savings from the new software?

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