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Georgia Corporation wants to purchase a new machine for $120,000. It will be used for 10 years, generate $30,000 of annual cash flows and have

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Georgia Corporation wants to purchase a new machine for $120,000. It will be used for 10 years, generate $30,000 of annual cash flows and have a $10,000 salvage value. What is the payback period on this investment? 10 years 3.67 years 4 years 5 years

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