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Consider the following facts do not consider the impact of income taxes: Initial cost of equipment $45,000 Estimated life 5 years Salvage value $5,000 Annual

Consider the following facts do not consider the impact of income taxes:

Initial cost of equipment $45,000

Estimated life 5 years

Salvage value $5,000

Annual cash inflows $15,000

Estimated cost of capital 8%

The payback period in years is closest to

A.
2

B.
5

C.
4

D.
3

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