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Wright Corp. is considering the purchase of a new piece of equipment, which would have an initiol cost of $1,000,000 and a 5 -year ife. There is no salvage value for the equipment. The increase in net income each year of the equipments life woild be as follows What is the payback period? What is the payback period? Multiple Choice 1.70 years 3.44 years 2.89 years 1.99 years