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A local church, High - as - a - Kite, decides to purchase a vehicle for $ 2 2 0 , 0 0 0 .
A local church, HighasaKite, decides to purchase a vehicle for $ The vehicle will have a salvage value of $ after a uscful life of five years. The new vehicle will replace an old vehicle. The old vehicle can be sold for a salvage value of $ The church will rent the vehicle out when it isn't being used at church and as a result it will create contribution margin of $ per year. The only fixed expense the vehicle will have is the annual depreciation of $ per year. What is the payback period for this investment?
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