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A new piece of equipment will produce cash flows of $1,000 in Year 1 and $1,500 in Years 2, 3, 4, and 5. The machine

A new piece of equipment will produce cash flows of $1,000 in Year 1 and $1,500 in Years 2, 3, 4, and 5. The machine costs $2,500. What is the payback period? a. 1 year b. 2 years c. 3 years d. 4 years e. Not enough information

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