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An initial investment of P180,000 is expected to generate P100,000 in annual cost savings over the assets expected 3-year life. Assume straight-line depreciation and ignore

An initial investment of P180,000 is expected to generate P100,000 in annual cost savings over the assets expected 3-year life. Assume straight-line depreciation and ignore income taxes. Determine the payback period is. (Round off final answer to two decimal places.)

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