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Cullumber's Custom Construction Company is considering three new projects, each requiring an equipment investment of $22,660. Each project will last for 3 years and produce
Cullumber's Custom Construction Company is considering three new projects, each requiring an equipment investment of $22,660. Each project will last for 3 years and produce the following net annual cash flows. The equipment's salvage value is zero, and Cullumber uses straight-line depreciation. Cullumber will not accept any project with a cash payback period over 2 years. Cullumber's required rate of return is 12%. Click here to view PV table. (a) Compute each proiect's payback period. (Round answers to 2 decimal places, e\&. 15.25) AA years BB years
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