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Bramble Company is considering investing in new equipment that will cost $1,412,000 with a 10-year useful life. The new equipment is expected to produce
Bramble Company is considering investing in new equipment that will cost $1,412,000 with a 10-year useful life. The new equipment is expected to produce annual net income of $79,400 over its useful life. Depreciation expense, using the straight-line rate, is $141,200 per year. Compute the cash payback period. (Round answer to 1 decimal place, e.g. 15.2.) Cash payback period years
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