Equipment will be purchased at a cost of $30,000. It will have no salvage value. The cash flows are expected to be: $12,000, $10,000, $16,000, and $8,000, over the life of the equipment. The payback period will occur in:

Select one: a. 2.53 years b. 3.1 years c. 2.5 years d. 4 years

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