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Crane Company is considering the acquisition of a machine that costs $60,000. The machine is expected to have a useful life of 5 years, a
Crane Company is considering the acquisition of a machine that costs $60,000. The machine is expected to have a useful life of 5 years, a negligible residual value, an annual cash flow of $15,000, and annual operating income of $15,000. What is the estimated cash payback period for the machine? a. 1.7 years b. 3 years c. 4 years d. 5 years
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