Hinton Company is considering purchasing new equipment for $408,000. It is expected that the equipment will produce
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Question:
Hinton Company is considering purchasing new equipment for $408,000. It is expected that the equipment will produce annual profit of $76,500over its16-year useful life. Annual depreciation will be $25,500.
Compute the cash payback period.(Round answer to 1 decimal place, e.g. 6.9.)
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