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A machine is purchased for $10,000 cash. This machine will have cash inflows of $2,500 per year for the first 3 years of its life,
A machine is purchased for $10,000 cash. This machine will have cash inflows of $2,500 per year for the first 3 years of its life, $1,000 per year for years 4-6, and no cash inflows thereafter. What is the payback period for this machine? (round to the nearest tenth of a year, if applicable)
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