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A company with $645,000 in operating assets is considering the purchase of a machine that costs $75,000 and which is expected to reduce operating costs

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A company with $645,000 in operating assets is considering the purchase of a machine that costs $75,000 and which is expected to reduce operating costs by $21,000 each year. These reductions in cost occur evenly throughout the year. The payback period for this machine in years is closest to (Ignore income taxes.): Multiple Choice 3.6 years 8.6 years 0.28 years 30.7 years

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