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A company is considering purchasing a machine for $19,600. The machine will generate income of $3,000 per year. Annual depreciation expense would be $1,000. What

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A company is considering purchasing a machine for $19,600. The machine will generate income of $3,000 per year. Annual depreciation expense would be $1,000. What is the payback period for the new machine? 2.9 years. 4. 9 years 6.5 years. 19.6 years. 9.8 ycars

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