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Cullumber Company is considering purchasing new equipment for $600,300. It is expected that the equipment will produce net annual cash flows of $69,000 over

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Cullumber Company is considering purchasing new equipment for $600,300. It is expected that the equipment will produce net annual cash flows of $69,000 over its 10-year useful life. Annual depreciation will be $60,030. Compute the cash payback period. (Round answer to 1 decimal place, e.g. 10.5.) Cash payback period years

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