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Evergreen Lawnmowers is considering the purchase of a new machine costing $820,000. The company's management is estimating that the new machine will generate additional cash
Evergreen Lawnmowers is considering the purchase of a new machine costing $820,000. The company's management is estimating that the new machine will generate additional cash inflows of $190,000 a year for ten years and have a residual value of $56,000 at the end of ten years. What is the machine's payback period? (Round your answer to two decimal places.)
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