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A company is considering a capital investment of $16,000 in new equipment which will improve production and increase cash fiows for the neat flve yeia

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A company is considering a capital investment of $16,000 in new equipment which will improve production and increase cash fiows for the neat flve yeia at the following amounts: Year 1: $8,000 : Year 2: 56,000; Year 3;$5,000; Year 4;$6,000; Year 5;55,000. The payback period is

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