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A new proposed investment costs $ 9 0 1 6 4 and has installation cost of $ 5 8 1 5 . The after -
A new proposed investment costs $ and has installation cost of $ The aftertax proceeds from selling the old investment are $ The aftertax annual cashflows from the old investment are equal to $ while the aftertax cashflows from the new investment are $ Assuming both investments have an infinite useful life, what is the payback period for replacing the old investment with a new investment.
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