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Crane Company is considering purchasing new equipment for $ 5 0 7 , 3 0 0 . It is expected that the equipment will produce

Crane Company is considering purchasing new equipment for $507,300. It is expected that the equipment will produce net annual cash flows of $57,000 over its 10-year useful life. Annual depreciation will be $50,730. Compute the cash payback period. (Round answer to 1 decimal place, eg.10.5.)
Cash payback period
years
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