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Exercise 10-12A (Algo) Determining the payback period LO 10-4 Jordan Airline Company is considering expanding its territory. The company has the opportunity to-purchase one of

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Exercise 10-12A (Algo) Determining the payback period LO 10-4 Jordan Airline Company is considering expanding its territory. The company has the opportunity to-purchase one of two different used airplanes. The first airplane is expected to cost $25,010,000; it will enable the company to increase its annual cash inflow by $6,100,000 per yeac. The plane is expected to have a useful life of five years and no solvage value. The second plare costs $43,000,000, it will enable the company to increase annual cash flow by $8,600,000 per yeat. This plane has an eight-year useful life and a zero salvage value Required at. Determine the paybiack period for each irvestment altemative. a2. Identify the oltemative Jordan should accept if the decision is based on the payback approach Note: Round your anwwers to 1 decimal ploce

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