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ABC Car Shop costs $240,000. It is expected to generate a net income of $80,000 at the end of every year for 5 years.

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ABC Car Shop costs $240,000. It is expected to generate a net income of $80,000 at the end of every year for 5 years. At the end of the 5 years, it has a salvage value of $100,000. What is the payback period of this business? 2.40 years 1.25 years 4.25 years 3.00 years 1.75 years

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