Gator Manufacturing is considering the purchase of equipment at a cost of $8,000.Gator expects the equipment to
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Question:
Gator Manufacturing is considering the purchase of equipment at a cost of $8,000.Gator expects the equipment to generate cash inflows of $2,000 each year for the next ten years.The companies required rate of return is 8%. The payback period for the equipment is:
1)10.0 years
2)4.0 years
3)5.0 years
4) 3.25 years
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