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Flint Growth Farms, a farming cooperative, is considering purchasing a tractor for $568,380. The machine has a 10-year life and at estimated salvage value of

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Flint Growth Farms, a farming cooperative, is considering purchasing a tractor for $568,380. The machine has a 10-year life and at estimated salvage value of $56,000. Deliverv costs and set-up eharses will be $14,100 and $440. respectively. Flint Growthuses straight-line depreciation and has a required rate of return ot 9. Flint Growth estimates that the tractor will be used five times a week with the average charge to the individual farmers of $440. Fuel is 560 for each use of the tractor. The present value of an arnuity of 1 for 10 years at 9% is 6.41766 . Click bere to view PV tables. For the new tractor, compute the: (a) Cash payback period. (Round answer to 1 decimal places, es. 15.2.) Cash payback period years

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