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Bailey Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in
Bailey Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in net income after tax of $51400. The equipment will have an initial cost of $392000 and have an 10 year life and no salvage value of the equipment. What is the payback period? Round your answer 2 decimals
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