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A machine costs $180,000, has a $13,000 salvage value, is expected to last eleven years, and will generate an after-tax income of $38,000 per year

A machine costs $180,000, has a $13,000 salvage value, is expected to last eleven years, and will generate an after-tax income of $38,000 per year after straight-line depreciation. What is the payback period

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