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Capital Budgeting Drill #6 A company is considering purchasing a repair machine. The company uses the straight line method of depreciation. The following information was

Capital Budgeting Drill #6 A company is considering purchasing a repair machine. The company uses the straight line method of depreciation. The following information was collected. Initial Cost $350,000 Useful Life 5 years Salvage Value None Est. Net Income Year 1 $153,000 Est. Net Income Year 2 $75,000 Est. Net Income Year 3 $102,000 Est. Net Income Year 4 Est. Net Income Year 5 $12,000 $6,000 What is the cash payback period of this investment

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