13. Determine the cash payback period on the proposed production equipment purchase, assuming a monthly cash flow as indicated in the cash budget (requirement 10f).

(This question is part of a longer accounting case (there are many answers for the 12 previous questions but none for this last one), I'm inserting 10f so you can have the info necessary to answer.)

10 ARMSTRONG HELMET COMPANY Cash budget December $240,000 $240,000 Beginning cash balance Add : Cash receipts Cash Receipts from Customers Total cash available Cash payments for Raw Materials Direct labor Manufacturing overhead General & administrative expenses Purchase of Equipment $52,500 $70,000 $9,800 $77,300 $720,000 $929,600 Preliminary cash balance Financing Loan borrowing $719,600 $719,600 $30,000 Ending cash balance