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can someone just work this out for me, i dont know how to get to the answer 43. Patterson Corp is considering the purchase of
can someone just work this out for me, i dont know how to get to the answer
43. Patterson Corp is considering the purchase of a new piece of equipment, which would have an initial cost of $500,000, a 7 year life, and $150,000 salvage value The increase in cash flow each year of the equipment's life would be as follows: Year 1 $99,000 Year 2 $91,000 Year 3 $89,000 Year 4 $78,000 Year 5 $75,000 Year 6 $70,000 Year 7 $64,000 What is the payback period? A. 5.51 years B. 5.97 years C. 6.00 years D. 6.18 years
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