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2- Memorial Diagnostics is considering a capital expenditure that requires an initial investment of $42,000 and returns after-tax cash inflows of $7,000 per year for

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2- Memorial Diagnostics is considering a capital expenditure that requires an initial investment of $42,000 and returns after-tax cash inflows of $7,000 per year for 10 years. The firm has a maximum acceptable payback period of 8 years. 1. Determine the payback period for this project 2. Should the company accept the project? Why or Why not

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