Phillips Refining plans to expand capacity by purchasing equipment that will provide additional smelting capacity. The cost
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Phillips Refining plans to expand capacity by purchasing equipment that will provide additional smelting capacity. The cost of the initial investment is expected to be $16 million. The company expects revenue to increase by $3.8 million per year after the expansion. If the company’s MARR is 18% per year, how long will it take for the company to recover its investment? Identify the engineering economy symbols involved and their values.
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Related Book For 
Basics Of Engineering Economy
ISBN: 9780073376356
2nd Edition
Authors: Leland T. Blank, Anthony Tarquin
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