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5. J&C Industries is planning on purchasing a new assembly machine for $40,000 to automate one of its current manufacturing operations. It will cost an

5. J&C Industries is planning on purchasing a new assembly machine for $40,000 to automate one of its current manufacturing operations. It will cost an additional $3,000 to have the new machine installed. With the new machine, J&C expects to save $15,000 in annual operating and maintenance costs. The machine will last 5 years with an expected salvage value of $6,000. How long will it take to recover the investment (plus installation cost)? this need to be answered in excel form

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