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A company is considering investing $1,500,000 in new machinery expected to generate annual cash flows of $400,000 for the next five years. Calculate the payback

A company is considering investing $1,500,000 in new machinery expected to generate annual cash flows of $400,000 for the next five years. Calculate the payback period for the investment and assess its feasibility based on the company's investment criteria and desired return on investment.

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