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Crane Bancorp has made an investment in banking software at a cost of $1,856,200. If management expects productivity gains and cost savings to generate additional
Crane Bancorp has made an investment in banking software at a cost of $1,856,200. If management expects productivity gains and cost savings to generate additional cash flows of $606,900, $697,600, $529,600, and $392,760 over the next four years, what is the investments payback period? (Round answer to 2 decimal places, e.g. 15.25.)
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