Tyme Manufacturing Inc. is evaluating a capital investment proposal for a new machine. The new machine has
Question:
Tyme Manufacturing Inc. is evaluating a capital investment proposal for a new machine. The new machine has a cost of $230,000, an expected useful life of six years, and a residual value of $20,000. Information on expected annual revenues and expenses associated with the machine is as follows:
All revenues and expenses are in cash, except for depreciation expense. Determine the following:
a. The average rate of return, and
b. The cash payback period.
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Related Book For 
Financial And Managerial Accounting
ISBN: 9781337902663
15th Edition
Authors: Carl S. Warren, Jefferson P. Jones, William B. Tayler
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