99. Harper Co. is considering an investment of $380,000 in heavy equipment which will enable the company to be in the construction industry. The useful service life of the equipment is estimated to be 10 years, with $30,000 salvage value. Straight-line depreciation is used. Harper estimates that net income will increase by $41,000 per year as a result of the company's a What is the approximate payback period for this investment? bility to handle a wider range of projects with the new equipment. a. 4.7 years b. 5 years c. 8.75 years d. 9 years 100. Harper Co. is considering an investment of $380,000 in heavy equipment which will enable the company to be more competitive in the construction industry. The useful service life of the equipment is estimated to be 10 years, with $30,000 salvage value. Straight-line depreciation is used. Harper estimates that net income will increase by $41,000 per year as a result of the company's ability to handle a wider range of projects with the new equipment. What is the approximate expected rate of return on average investment? a. b. c. d. 20% 23% 37.5% 43%