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Acme Company purchases some new equipment for $21,000. Acme estimates that the new equipment will increase sales revenue by $33,000 per year. The related

Acme Company purchases some new equipment for $21,000. Acme estimates that the new equipment will increase sales revenue by $33,000 per year. The related operating costs will be $27,000 per year. The equipment has an estimated useful life of 6 years and an estimated salvage value of $5,000. What is the payback period for the new equipment? Round to one decimal place.

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