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General Mills is planning to purchase a new machine to produce its cereal Cheerios. This machine will cost $25,000 and will have a useful life
General Mills is planning to purchase a new machine to produce its cereal Cheerios. This machine will cost $25,000 and will have a useful life of 10 years with no salvage value. The ANNUAL cash inflow (or net income) from the machine is $7,000. In what year does the DISCOUNTED payback period occur for this machine with an interest rate of 15%? Assume year-end cash flows. Enter your answer as integer
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