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Food Harvesting Corporation is considering purchasing a machine for $1,718,750. The machine is expected to generate a constant after-tax income of $103,125 per year for

Food Harvesting Corporation is considering purchasing a machine for $1,718,750. The machine is expected to generate a constant after-tax income of $103,125 per year for 15 years. The firm will use straight-line (SL) depreciation for the new machine over 10 years with no residual value. What is the payback period for the new machine

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