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3) Perry Enterprises purchased a new machine with a total cost of $31,600 and a useful life of 4 years. The machine will produce net
3) Perry Enterprises purchased a new machine with a total cost of $31,600 and a useful life of 4 years. The machine will produce net cash inflows of $7600 over its useful life and has a residual value of $1510. What is the payback period for the new machine? A) 5.19 years B) 3.96 years C) 4.16 years D) 3.16 years
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