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Crane Solutions, Inc., has just invested $5,413,500 in new equipment. The firm uses a payback period criteria of rejecting any project that takes more than

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Crane Solutions, Inc., has just invested $5,413,500 in new equipment. The firm uses a payback period criteria of rejecting any project that takes more than four years to recover its costs. Management anticipates cash flows of $687,300, $919,800, $942,300, $1,157,400, $2,125,100, and $2,023,100 over the next six years. (Round answer to 2 decimal places, e.g. 15.25.) What is the payback period of this investment? Payback period is years. Should Crane Solutions, Inc. go ahead with this project? The firm the project

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